INTRO: The Cab aggregator and one of the biggest ride-hailing giants, Uber has announced that it’s laying off 600 employees in India. That is about 25% of the company’s workforce in the country as it tries to cut costs due to the arisen crisis of coronavirus.
Uber Cuts 25% of Jobs In India
The ride-hailing company Uber has laid off its 25% of employees to cut costs in India. This all because of the loss the company is suffering from the current situation of coronavirus lockdown. The company’s job cuts in India affect customer support, marketing, legal, policy, and other departments. Apparently, the cuts are a part of the company’s global restructuring process that laid off 6,700 employees this month.
Uber Said It Is a Far-Sighted Decision
“These reductions are part of previously announced global job cuts this month. Today is an incredibly sad day for colleagues leaving the Uber family and all of us at the company. We made the decision now so that we can look to the future with confidence,” said the company’s President for India and South Asia businesses.
According to Uber, the company is providing certain benefits to laid-off employees. Uber says it’s giving them 10 to 12 weeks of salary, along with an additional 6 months of health insurance.
90% Of Indian Startups are Suffering From Loss
As the Coronavirus pandemic pushes the world into an extended period of lockdown for a long time, companies have been laying off employees to stay afloat. In fact, a recent report suggested that 90% of Indian startups are facing huge revenue loss due to the pandemic. All startup companies are laying off employees left and right. Uber’s competitor Ola also recently laid off 1,400 employees in the country. Before that, Swiggy laid off almost 1,100 employees in India. Coronavirus Pandemic has made the world Upside down with huge losses in every Field.