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Covid-hit MakeMyTrip lays off 350 employees, says no respite in sight
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SME Times News Bureau | 01 Jun, 2020
Covid-hit online travel major MakeMyTrip has laid off nearly 350
employees as the pandemic has changed the context and viability of some
of its business lines in its current form.
The company is offering mediclaim coverage for the impacted individuals and their families till the end of the year.
According
to an internal letter from Founder Deep Kalra and CEO Rajesh Magow sent
to employees, the impacted employees will also get leave, gratuity,
retention of company laptops and outplacement support, apart from salary
payments as per their notice periods.
"It is undoubtedly the
toughest decision we have had to take so far and it's the saddest day
for us as an organization," read the letter.
The company analysed Covid-19 impact closely and spent considerable time thinking about the path to business recovery.
"It
is evident that the pandemic has changed the context and viability of
some of our business lines in its current form. Keeping this in mind we
have had to take this sad but inevitable decision of rightsizing our
workforce in these businesses," said the duo.
The staff
rationalization, they said, is mapped to their future business strategy
and "is in no way a reflection of the work done by people in these
teams".
According to Kalra, the word of travel has been ravaged due to global Covid-19 pandemic.
"What's
evident is that the impact of COVID-19 crisis is going to be long drawn
for us. It's unclear when traveling will become a way of life, as it
was pre-Covid," said the letter.
The tourism industry in India
is staring at two crore job losses as industry insiders cite central
apathy and a predictably long recovery period.
Indian tourism
travel and hospitality impacts 10-12 per cent of India's employment
which covers almost 5 crore plus direct and indirect jobs.
"We
are living through extraordinary times which have impacted individuals,
communities, businesses, countries and our world at a magnitude unknown
before and there is no let-up in sight," said the MakeMyTrip executives.
The
Indian tourism, travel and hospitality sector has already seen over one
quarter of accumulated losses which began from February onwards.
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