Since the Government of India imposed a nationwide lockdown to prevent the transmission of the novel coronavirus, the movement of goods has to come to a halt. Due to the lockdown, several logistics companies have started to lay off employees in an attempt to conserve cash.
In recent news, online logistics solutions provider BlackBuck is reportedly set to lay off about 200 of employees from across customer experience and operations departments as it faces demand headwinds because of the coronavirus pandemic.
As per a CNBC report, the company may let go of another 250 employees in the coming weeks. Most of the impacted employees were working in customer experience and operations. BlackBuck is helping the affected employees to secure positions in other companies, the report added.
The B2B logistic support provider has over 400,000 partner trucks on its platform, and serves over 30,000 clients, including Asian Paints, Coca Cola, ITC, Tata Steel and Hindustan Unilever.
BlackBuck has raised over $200 million in funding from investors such as Accel Partners, B Capital, Flipkart, Goldman Sachs, Tiger Global, and several others.
In recent times, we have been witnessing a surge in lay offs by different new-age startups and small scale enterprises. Another logistics player Ecom Express has also said that it has put hiring on hold and also stopped major capex spends. The company, however, assured that it will not be laying off any employees.
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