Bounce lays off 130 staff as Covid-19 hits mobility enterprise, Expertise Information, ETtech
That is the second such downsizing this 12 months.
“Sadly, the best way the exterior atmosphere has continued to shift means our medium-term workforce wants have modified as a number of new enterprise traces, merchandise, and initiatives we had deliberate should both rework or be placed on maintain within the coming quarters,” Co-Founder and CEO Vivekananda Hallekere said in a blog post.
Hallekere stated that the corporate will provide a three-month severance package deal to all affected staff.
In Might, Uber too let go of 600 people, or a fourth of its 2,600 workforce in India, throughout ranges and groups. The identical month, its homegrown rival Ola laid off a 3rd of its workforce members within the nation, affecting 1,400 staff.
The mobility enterprise globally has been one of many worst-hit with the unfold of the coronavirus.
Final week, ET reported that shared mobility firms are facing weak recovery in journey numbers, even after the economic system unlocked following two months of a nationwide shutdown. The outlook for cabs, rental companies, bikes and autorickshaws for the complete 12 months additionally appears dim, as individuals in cities concern stepping out because of the Covid-19 outbreak. Drop in tourism and company journey can be hurting shared rides.
“This resolution is only an end result of a change in our enterprise priorities and doesn’t both replicate the unparalleled functionality, efficiency, or dedication of any member of our workforce,” Hallekere stated.