Livspace CBO quits amid 1,000+ layoffs, co-founder exit
24 Feb 2026

Lalit Mittal, the Chief Business Officer (CBO) of Livspace, has resigned from his position.

This is the second high-profile exit from the Bengaluru-based home interiors platform in a matter of days.

The news comes just after Saurabh Jain, India CEO and co-founder at Livspace, announced his resignation.

The company has also laid off over 1,000 employees as part of its cost-cutting measures and to improve operational efficiency through artificial intelligence (AI).

Mittal was with LivSpace for 6 years
Departure details

Livspace has confirmed Mittal's exit, saying he left the company over a month ago.

A spokesperson for the firm said, "Lalit has decided to embark on his own entrepreneurial journey after an incredible six years with us where he drove a 4x business growth."

They added that they are grateful for his contributions during his tenure and wish him well as he starts his next venture.

Livspace downplays concerns about senior leadership changes
Career trajectory

Mittal was appointed CBO after co-founder Jain became CEO of Livspace India in 2022.

His departure leaves a vacancy at the top management level, but it is still unclear who will be taking over his responsibilities as CBO.

Despite these high-profile exits, Livspace has downplayed concerns about senior leadership changes, calling them a "natural evolution" of a high-growth organization.

Co-founder's exit after over 11 years
Leadership transition

Jain, who co-founded Livspace with Ramakant Sharma and Anuj Srivastava, announced his exit from the company after over 11 years.

He hinted at plans for a new venture in a LinkedIn post reflecting on his entrepreneurial journey.

Jain thanked everyone associated with Livspace and expressed optimism about the company's future.

In response to his announcement, industry leaders praised him for building a "category-defining business."

Livspace's financial performance in FY25
Business growth

Despite the recent changes in its leadership team, Livspace has been able to reduce losses and improve its top line over the years.

In FY25, the company reported a 23% increase in sales to ₹1,460 crore from ₹1,185 crore in FY24. Its losses also shrunk from ₹416 crore to ₹242 crore during this period.