Gurugram-based travel firm MakeMyTrip has decided to lay off 350 employees after being severely hit by the ongoing pandemic. The travel and tourism industry is said to be one of the worst hit sectors by the pandemic, and this sector will only see some recovery after travel restrictions are relaxed and international borders are opened up.
“Over the past two months, we have analysed the impact closely and have spent considerable time thinking about the path to business recovery. As a result, it’s become clear that there are certain lines of business that are deeply affected and will take much longer than the others to recover. As we revisited some of our strategies, it is evident that the pandemic has changed the context and viability of some of our business lines,” said Rajesh Magow, CEO, in an email to employees. “Keeping this in mind, we have had to take this sad but inevitable decision of rightsizing our workforce in these businesses,” he added.
To support employees who have been laid off, the company is offering mediclaim coverage for individuals and their families till the end of the year, leave encashment, gratuity, retaining the right to exercise part of RSUs as applicable, retention of company laptops and outplacement support apart from salary payments as per their notice periods.
MakeMyTrip is a pioneer in India’s online travel industry. Founded in the year 2000 by Deep Kalra, MakeMyTrip came to life to empower the Indian traveller with instant bookings and comprehensive choices. The company initiated its journey serving the US-India travel market offering a range of best-value products and services powered by technology and round-the-clock customer support.
MakeMyTrip’s rise has been led by the vision and the spirit of each one of its employees, for whom no idea was too big and no problem too difficult. With untiring determination, MakeMyTrip has proactively diversified its product offering, adding a variety of online and offline products and services. MakeMyTrip has stayed ahead of the curve by continually evolving its technology to meet the ever-changing demands of the rapidly developing global travel market, steadily establishing itself as India’s leading online travel company.