Coronavirus Impact | MakeMyTrip lays off 350 employees as COVID-19 crisis hits business
New Delhi | Jagran Business Desk: India's largest travel aggregator MakeMyTrip has decided to lay off 350 employees as coronavirus impact on travel continues to hurt the travel industry.
MakeMyTrip Chief Executive Officer (CEO) Rajesh Magow, in an email to the employees, said that the decision has been taken in view of the coronavirus pandemic in the country.
"Over the past two months, we have analysed the impact closely and have spent considerable time thinking about the path to business recovery. As a result, it’s become clear that there are certain lines of business that are deeply affected and will take much longer than the others to recover. As we revisited some of our strategies, it is evident that the pandemic has changed the context and viability of some of our business lines," said Rajesh Magow, as reported by The Business Standard.
Meanwhile, Group Executive Chairman Deep Kalra said that "the staff rationalisation we have had to undertake is mapped to our future business strategy".
"We have tried to offer support including Mediclaim coverage for individuals and their families till the end of the year, leave encashment, gratuity, retaining the right to exercise part of RSUs as applicable, retention of company laptops and outplacement support apart from salary payments as per their notice periods," Kalra was quoted as saying by Money Control.
Tourism industry has been hit by the dreadful coronavirus. According to a report by the World Economic Forum, the coronavirus pandemic could result in 50 million job cuts worldwide in the tourism and travel industry.
Posted By: Aalok Sensharma