COVID-19 Impact: BookMyShow Trims Business, 270 Hit By Layoffs & Furloughs

Online ticket booking organization BookMyShow has laid off 270 representatives, making it the most recent participant in a rundown of very much financed buyer web organizations to have terminated employees in the wake of the emergency because of the COVID-19 pandemic. 

CEO of BookMyShow, Ashish Hemrajani mentioned in his email that the organization has been compelled to scale down due to the "negative condition”. We are at the phase where I need to impart to you, the awkward, sad yet unavoidable scaling back exercise that we need to take because of the horrible condition. Out of 1,450 representatives at BookMyShow in India and all around, around 270 workers across different capacities and groups will be affected through this activity. This incorporates the individuals who will be put on vacations, alongside the individuals who we should go separate ways with, in any event, starting at now. The organization has cut every other cost and renegotiated with merchants, accomplices and proprietors and in the wake of depleting all other cost-sparing measures, we have accepted this choice if all else fails.”

The organization, which was esteemed at about $800 million during its last financing round in 2018 and which tallies any semblance of SAIF Partners, TPG Growth and Accel Partners as speculators, didn't give a separation of the number of workers who had been terminated and those on leave. 

BookMyShow joins any semblance of home-developed ride-hailing significant Ola, cordiality chain Oyo Hotels and Homes, food conveyance majors Zomato and Swiggy, and B2B online business organization Udaan – among the most prominent shopper web organizations to have brought a huge number of dollars up in subsidizing – to slice worker numbers.

Hemrajani said representatives that have been laid off will be given severance pay of two months' pay regardless of their residency or according to see period, whichever is higher. They will likewise get clinical protection spread, alongside their designated relatives, until September 30.