in

MakeMyTrip lays off 350 employees due to COVID-19 impact


Online travel firm MakeMyTrip has laid off 350 employees due to the impact of the COVID-19 pandemic on its business.

Most of the fired employees are in international holidays and related line of business, according to sources.

In an email to employees, MakeMyTrip Group Executive Chairman and founder Deep Kalra and Group CEO Rajesh Magow said even as times remain unpredictable, what is evident is that the impact of COVID-19 crisis is going to be long drawn for the company.

It is unclear when travelling will become a way of life, as it was pre-COVID, they added.

Layoffs


“Over the past two months, we have analysed impact closely and have spent considerable time thinking about the path to business recovery. As a result, it’s become agonisingly clear that there are certain lines of business that are far deeply affected and will take much longer than the others to recover,” they said.

It is evident that the pandemic has changed the context and viability of some of business lines in its current form, the mail said.

“Keeping this in mind, we have had to take this sad but inevitable decision of rightsising our workforce in these businesses,” Kalra and Magow said.

When asked about the number of employees that have been impacted, a company spokesperson confirmed that 350 employees have been impacted.

“To compassionately take care of the employees who have been impacted, we have tried to do our best to offer support including mediclaim coverage for individuals and their families till the end of the year, leave encashment, gratuity, retaining the right to exercise part of RSUs as applicable, retention of company laptops and outplacement support, apart from salary payments as per their notice periods,” they said.

Kalra and Magow also said that it was undoubtedly the toughest decision “we have had to take so far and it’s the saddest day for us as an organisation”.

Want to make your startup journey smooth? YS Education brings a comprehensive Funding and Startup Course. Learn from India’s top investors and entrepreneurs. Click here to know more.





Source link

What do you think?

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Comments

0 comments

Xiaomi is getting ready for 6G

Gaming giant Netease to list in Hong Kong on June 11 · TechNode