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…
Tag: laying off
Curefit lays off staff, cuts pay across levels and closes operations in several markets
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•As the nationwide lockdowns continue, gym and fitness centers across the country remain closed piling up losses for the company that operates them or owns them. In an attempt to tide over the coronavirus crisis, health and fitness startup Cure.fit recently announced that it has decided to lay off trainers and downsize operations in several…
Furlough vs Layoff, the big difference
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•The coronavirus pandemic isn’t only affecting people’s health and safety. It is also impacting people’s livelihoods as the virus hits the economy. The pandemic has brought the global economy to a halt. With restrictions on movement, nationwide lockdowns, and closure of businesses, the flow of money has become really slow. The virus has not only…
SoftBank-backed real-estate startup Compass lays off 15% of the workforce
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•Real-estate brokerage startup, Compass has reportedly laid off 15% of its workforce due to the ongoing crisis in the real estate industry because of the coronavirus outbreak. As per a TechCrunch report, based on an internal email accessed by the media, the Softbank-backed startup has recently has laid off 15% of its staff as a…
Why is laying off poor performers, “employee unfriendly” ?
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•I was reading a report on Economic Times, this morning (Infosys trimming up to 5,000 staff to scissor costs) and well i see the phrase – “employee unfriendly” being used for the company’s decision to trim up the organisation by letting go the poor performers. I wonder, why is it – “employee unfriendly”. It’s just…