The business of almost all Indian companies has hit a hard road ever since the Corona outbreak due to which some of them have already done layoffs while many companies went to cutting salaries by some percentage and some with furloughs.
Online insurance firm Acko announced the layoff of 50 people while US-based travel tech startup Fareportal has laid off around 500 people in India as per their official notification. The hotel space giant OYO has managed to not do any layoffs but has put majority of its employees on furloughs, especially in its US division that has been most impacted. Social commerce startup Meesho announced to layoff 200 people among its workforce of 500 people. The Hyderabad branch of Techolution terminated 20 employees which including a 5 month pregnant employee.
The employees in Karnataka have taken a huge hit as well as the companies in Indian startup capital have dealt in a tough way. Bounce cut off 120 employees while further implementing a salary cut on rest of its employees based on their salary. E-commerce company Chumbak terminated 247 employees through forced resignation while Hula Infotainment terminated 30 employees. Further, Hem and RAT terminated 4 employees, Mistefa terminated 60 employees through forced resignation, IVT Co terminated 22 employees, Parallel Wireless laid off 15 employees and Flying Out terminated 90 employees.