<ul><li>Sharan Hegde, founder and CEO of finance platform 1% Club, faced backlash from netizens after laying off 15% of employees.</li><li>Hegde clarified that the layoffs were part of a cost-cutting exercise and to address hiring mistakes.</li><li>The 1% Club secured investment but put the money in an FD, drawing criticism from netizens.</li><li>Critics argue that a company promoting financial literacy should have managed its finances better.</li></ul>

1% Club Founder Backlashed by Netizens for Laying Off 15% of Employees

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