Covid-19 pandemic has forced the governments to go for the lockdown despite knowing the fact that it will pose a great danger to the economy.
It is obvious that this will in turn result in layoffs, pay cuts, and closure of companies.
Despite the the job assurances from the company managements, employees are laid off. Some employees have already started sharing there ordeals on the LinkedIn.
Avinash Kumar Mehta, employee of social commerce company Meesho, revealed in LinkedIn that, the CEO had promised them a few days ago that the employees need not worry about their jobs. But he did not stand on his word as the employees started getting calls from HR department to submit their resignation on the phone call itself.
Meesho had fired nearly 150 employees earlier this month on the grounds of cost-cutting measures.
This is not just the case with Meesho but 25 other companies across India.
The notable point here is that financial condition of these companies is quite good and they can survive at least 10 months with the profits they had accumulated all these years.
BharatPe, Fab Hotels, Oyo, BlackBuck, Acko, Zolo Stays, Udaan, Treebo and Homelane have fired some of their employees and contract staff according to the data shared by Big Jobs.
It is also revealed that Bounce, AgroStar, BookMyShow, Livspace and Droom have cut 15% to 70% of the salaries of their employees based on the HR department calculations. 91Springboard and Grofers have put some of their employees on bench.
Hundreds of employees across India who are working in print media have been shown the door.
Surprisingly, the print media which covers each and every small news has conveniently ignored this fact.
This is just the tip of the iceberg. The details of layoff in hundreds of companies are yet to be emerged. And they will present a sad picture for sure.
Despite the governments' request to the corporate companies and other service sector firms to refrain from layoffs, the companies are going ahead and doing it. This shows that the ground reality is completely different.
The strange thing is that the employees who suffered pay cuts the last few weeks are not feeling secure in any manner. They are still worried about their jobs because they are unable to predict the business conditions and profitability of the company in the next 6 months.
Everybody knows that unless a company is into profits it cannot retain its employees for a long time. This is a thumb rule and applies to all the companies.
