Layoffs at new-age startups are becoming more and more common during the coronavirus pandemic. As company’s struggle to keep business floating during this unprecedented crisis, layoffs have become a common tool to conserve cash. Joining the likes of many others, used car marketplace CarDekho has recently laid off over 200 employees. According to an Entrackr…
Ahmedabad-based fintech startup Lendingkart recently laid off 30% of its workforce just days after securing a ₹319Cr funding. The move is expected to impact around 200 employees of the company. Lendingkart provides collateral-free working capital loans ranging from Rs 1 lakh to Rs 40 lakh to small businesses and MSMEs, who have taken a big…
Computer hardware company IBM or International Business Machines Corp recently announced that it is planning to lay off an unspecified number of employees across five states in the United States. Incidentally, this is the first time the global tech giant is executive layoff exercise under the new Chief Executive Officer Arvind Krishna’s leadership. The company…
Layoffs have become a common phenomenon in such a time of crisis. Every other day, we get news about small and big organizations laying off employees as the coronavirus pandemic is drying up revenues and companies opt for tough cost cutting measures to stay afloat. In recent news, diversified financial services firm Indiabulls Group has…
Indian social networking app Sharechat has recently laid off about 101 employees or 25% of its staff as the ongoing coronavirus pandemic impacts ad revenues. The development was first reported by The Economic Times. According to an internal mail sent to employees by company Chief Executive Officer Ankush Sachdeva, the advertisement market remains unpredictable this…
Indian unicorns are now struggling to keep their businesses afloat. Layoffs and salary cuts have now become a daily news from these new-age startups. Joining the likes of Swiggy, Zomato, and Uber, ride-hailing Indian unicorn Ola has decided to lay off staff. In a company blog post written by the CEO Bhavish Aggarwal, it was…
IKEA-backed home design and decor startup Livspace has recently laid off 15% of its workforce as coronavirus turmoil impacts the company’s business. The company has also cut its expense by 25-30% in order to save itself from further losses. The recent development comes just a month after the company said that it had not resorted…
Ride-hailing giant Uber recently said that it has decided to lay off 3,000 more employees as coronavirus-led restrictions has reduced the demand for ride-hailing services. These job cuts are in addition to the 3,700 Uber had announced earlier this month. The employees were informed about the decision by Chief Executive Officer Dara Khosrowshahi in an…
Just days after Zomato announced its decision to lay off employees, food delivery unicorn Swiggy also said that it is laying off 1,100 employees across functions over the next few days. In a blog written by Sriharsha Majety, Co-Founder and Chief Executive Officer, the company said, it will be laying off 1,100 employees across grades…
Indian food delivery unicorn Zomato recently announced that it is set to lay off about 13% of its workforce due to the coronavirus pandemic’s impact on business. The job cuts and temporary pay cuts for employees were announced by the company founder and Chief Executive Officer Deepinder Goyal through a blog published on the company…
Ride-hailing giant Uber has been witnessing a series of layoffs across departments of the company due to the coronavirus impact on the business. Recently, the company had announced that it is laying off 3,700 employees globally to save costs. Following the footsteps of its parent company, Uber’s subsidiary in Middle East Careem has now announced…
Ride hailing platform Uber is reportedly planning to lay off around 500-700 employees from its India unit as the company struggles to operate in the country. Due to the coronavirus pandemic, New Delhi has imposed a nationwide lockdown since March owing to which movement of people has come to a standstill. Taxi and transportation services…
Ride-hailing giant Uber Technologies recently announced that it has decided to lay off 3,700 employees or 14% of its workforce due to the impact of the pandemic on the company’s business. According to the US SEC filing made by the company on May 2, the company is all set to execute a plan put in…
Cloud-computing company Nutanix has reportedly confirmed furloughing a total of 1,465 employees in the United States, nearly 25% of the company workforce globally. According to a report by CRN, the company is reducing headcount due to “uncertain business conditions” stemming from the coronavirus pandemic. Speaking to the news website CRN, the company said that it…
US-based hospitality firm Airbnb Inc recently announced that it has decided to lay off about 25% of its workforce, nearly 1,900 employees due to the impact of coronavirus pandemic on travel industry. Announcing the decision, company Founder Brian Chesky in a memo said that the company’s business has been hit hard as the pandemic has…