Taking into consideration the impact of the coronavirus pandemic on businesses, Zomato recently announced that hundreds of its employees are taking a voluntary deep cut in salaries to help the company sustain.
In a series of tweets, Zomato CEO Deepinder Goyal announced that hundreds of employees have taken deep voluntary salary cuts to help the company maintain steady cash flow.
Goyal also announced that Zomato is also setting up a Daily Wager fund to help the daily wage workers in these tough times. “Also, FWIW, to conserve our own cash flows, hundreds of Zomato employees have taken deep voluntary salary cuts. We are also donating for our delivery partner fund, as well as the Feed the Daily Wager campaign to support the community during these times,” Goyal wrote in a tweet.
“Dining out in many countries is badly hit,” Goyal said, adding that “thousands of restaurants have been severely hit because of their immobilized workforce due to the lockdown.”
Aside from the salary cuts, Zomato will also facilitate loans for its food delivery and restaurant partners.
Apart from highlighting the fact that businesses are having a tough time negotiating the crisis, Goyal also announced several measures to help its customers and its partners.
“Dining out in many countries is badly hit. For our Gold partners (dining out), we’ll be facilitating working capital loans to get through this tough time,” he wrote in a tweet adding, “We are also going to facilitate loans for our food delivery restaurant partners – thousands of restaurants have been severely hit because of their immobilized workforce due to the lockdown.”
Asking the government to help businesses in the crisis, Goyal in another tweet said, “We also hope that we get government support to help us with this.”
India this week has imposed a nationwide 21-day lockdown to curb the spread of the disease. The number of confirmed cases in the country has already crossed 600.
Sandeep is a journalism and mass communication graduate with a keen interest in politics and business. He is a part of Research & Content team at HrNxt.com.