Livspace CBO Lalit Mittal resigns

Updated: 24-02-2026, 11.07 AM

What is the news?

Lalit Mittal, Chief Business Officer (CBO) of home interior company Livspace, has resigned. Mittal’s resignation comes after the company recently laid off about 1,000 employees. Earlier, the company’s India CEO and co-founder Saurabh Jain had also stepped down. With the departure of two senior executives in a row, discussions about large-scale changes in the Singapore-headquartered company have intensified and questions are being raised about the future strategy.

The company officially confirmed

Officially confirming the development, the company said that Lalit Mittal had separated from the organization about a month ago. He worked with the company for six years and during this period the business registered a four-fold growth. According to the company, Mittal now wants to start his new entrepreneurial journey and is looking for new opportunities. Livspace expresses its gratitude for his contribution, leadership and strategic role.

Focus on organizational change and AI

Livspace is currently going through a major organizational change and restructuring process. The company is increasing the use of Artificial Intelligence (AI) to reduce costs and make operations better, faster and more efficient. Under this strategy, a large number of employees were laid off recently. Mittal, along with the CEO and other senior executives in the company, played a key role in growing and expanding the India business.

improving financial performance

On the financial front the company has shown some improvement and stability in recent years. Livspace’s sales increase to Rs 1,460 crore in FY2025, which is 23 percent more than the previous year. During the same period, the company’s loss reduced from Rs 416 crore to Rs 242 crore. The company says it considers change in leadership as a normal process for an evolving and rapidly growing organization.