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BookMyShow to downsize workforce

BookMyShow to downsize workforce

BookMyShow has decided to lay off and furlough some employees globally amid the aggravating COVID-19 crisis.

 

As per the reports, 1,450 employees at BookMyShow in India and globally, nearly 270 employees (across various functions and teams, will be impacted wth the move.

 

"To those who are leaving us, I am truly sorry for having to make this decision. While it is of no consolation, you should know that the teams that are staying back have voluntarily taken salary cuts ranging from 10% to 50% at the leadership level, given up their bonuses and all salary raises", founder & CEO Ashish Hemrajani in an email to employees.

 

"The company has cut all other expenses and renegotiated with vendors, partners and landlords and after exhausting all other cost-saving measures, we have taken this decision as a last resort".

 

The furlough workforce will continue to remain employed with the company and will be eligible for all medical insurance, gratuity and other benefits. While the employees that have been laid off will receve severance pay of two months’ salary irrespective of their tenure or as per notice period, whichever is higher.

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