MakeMyTrip Lays Off 350 Employees as Lockdown Ravages Travel Industry

MakeMyTrip Lays Off 350 Employees as Lockdown Ravages Travel Industry
Gurugram, Haryana-based journey agency, MakeMyTrip, is shedding 350 workers after struggling an enormous downturn in its enterprise due to the COVID-19 pandemic. In a letter despatched to all workers on Monday, the corporate’s founder, Deep Kalra, and CEO, Rajesh Magow, stated that the choice was “undoubtedly the toughest decision we have had to take so far and it’s the saddest day for us as an organization”.

As a part of the severance bundle, workers will get wage funds as per their discover intervals, in addition to Mediclaim protection for themselves and their households till the tip of the yr. All affected workers will even be entitled to go away encashment, gratuity and outplacement assist. They will even retain the correct to train a part of RSUs (Restricted Stock Units) as relevant and get to maintain their firm laptops.

According to NDTV, the letter stated:“… it is evident that the pandemic has changed the context and viability of some of our business lines in its current form. Keeping this in mind we have had to take this sad but inevitable decision of rightsizing our workforce”. The report additional claims that many of the affected workers are from the corporate’s ‘international holidays’ division and associated operations.

Various corporations have downsized just lately due to the pandemic and the resultant lockdowns which have badly affected their companies. While Swiggy minimize greater than 1,000 jobs earlier this month, Ola laid off 1,400 staff final week. BookMyShow additionally laid off or furloughed 270 workers – round 18 p.c of its complete workforce – due to the influence the pandemic has had on the consumption of out-of-home leisure.

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