Online travel firm MakeMyTrip is laying off 350 employees due to the COVID-19 pandemic. The travel sector has been severely hit as the government announced nationwide lockdown starting from March.
MMT is offering mediclaim coverage for all impacted employees and their families until the end of this year. It’s also allowing for leave encashment, gratuity, retaining the right to exercise part of RSUs as applicable.
MakeMyTrip CEO Deep Kalra announced the layoff in a letter to the company employees.
“As we revisited some of our strategic imperatives to be able to sustain our business in the long term, 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,” the letter read.
“We are truly appreciative of all the work they have put in over the years to make this organisation what it is today. The staff rationalisation we have had to undertake is mapped to our future business strategy and is in no way a reflection of the work done by people in these teams. We wish them only the very best for what follows from here, and we thank them deeply for their rich contribution to Go-MMT,” it added.