Many startups are avoiding pay cuts and jobs losses by canceling the office lease

Several startups in the country are canceling their office leases in order to survive through these tough times without any pay cuts and job losses. One such example is related to a Hindi audio content platform startup Khabri. Recently, while most of their employees are working from home and will continue to do so for some time, they had to give up their own private space at Gurugram. Most of the staff are working remotely and the majority of them have decided to continue working remotely. Hence they had to give up their space.

In the past few weeks, many companies have changed the roles of their employees to permanently work from home. The advantages are clear with this model, increase efficiency, less operational costs, and more safety. Several tech giants like Twitter allowed its employees to work from home whenever they want, TCS is planning to have 75% of its employees to work from home by 2021.

One another startup that did the same is Bizzitor. It did not renew its lease in order to prevent job cuts and salary losses. Bizzitor founder had said that they initially took this place to attract top talent and impress their clients, but with most of their employees are working from home they thought of giving away their lease. All they are looking for now is a small space, as a registered business needs a dedicated official address.

Several other startups across Mumbai, Bangalore, Gurugram are following this model to help the company prevent losses. Also, most of the staff are now preferring to work remotely.

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