Oyo rooms staff will work from home permanently

Recently, the CEO of Oyo announces that Oyo rooms staff will work from home permanently. This decision comes after the company quits its leased offices in Gurugram

Oyo rooms staff will work from home permanently

Currently, Oyo classifies its employees into three categories. Those are corporate employees, capability functions, and field staff.

The field staff should be working at their real estate properties full time, but the remaining two sets of employees can WFH permanently

The Cheif HR officer of Oyo says the same thing while interacting with the media. He says that the company is planning to implement a hybrid model of working from home.

The employees do not need to come to offices. They can either work from home or from the co-working spaces of Oyo. Not only Oyo but several companies are implementing permanent work from home model

Several other Indian startups like Policy Bazaar also ditched their offices in Gurugram enabling permanent WFH. Swiggy and Zomato are also considering the same

Also, read: 30% of Tech Mahindra will soon WFH permanently

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Also, read: 11000 employees resigned from top Indian companies in the last 90 days
Swiggy announces that more job cuts are happening
Google extends work from home until next June

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Swiggy announces that more job cuts are happening

After announcing job cuts in May, the food delivery company Swiggy announces that more job cuts are happening. Due to the slow business recovery, the company decides to cut 350 more jobs.

Swiggy announces that more job cuts are happening

The company says that the whole industry only recovered 50% of its peak after the lockdown. After the lockdown, the company wanted to realign its resources. These resources are to be used by the company in higher potential areas

However, as the whole industry has only reached 50% of its potential and due to the losses, the company decides to let go of 350 jobs.

Although, Swiggy offers three to eight months of salary for the employees who lost jobs. The impacted employees can avail their insurances and health benefits from the company

To recover the losses due to the lockdown, Swiggy starts delivering alcohol as well, in certain parts of the country. Previously, Swiggy also started grocery delivery.

Zomato and Swiggy, both started partnerships with the local shops and started delivering the groceries.

Also, read: Google extends work from home until next June

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Companies that laid off their employees recently have started helping them out in finding jobs elsewhere

Many companies have laid off some of their employees in order to survive in the post corona crisis. Almost all the companies either have furloughed their employees or made them take a leave of absence. But some companies are still trying to help their employees by finding them jobs elsewhere

One such company is Swiggy. The hiring team at Swiggy has given 1,100 pink slips to their employees recently. Now they have started to do outplacement and find their laid-off employees new jobs. The vice-president of HR at Swiggy has said that they have recently fired their employees only to survive the impact coronavirus has caused. It was a tough call for them to fire some fo their employees. He also said that their employees are performers and they can help their new companies.

Along with Swiggy, several other companies are also doing helping their employees who are recently been fired. This list includes Uber India, Oyo, Ola, Cure.fit, ShareChat, Lendingkart, Zomato, MakeMyTrip, Airbnb. The companies only account for firing 5000 of their employees due to their revenues collapsing from 40-80%. In some sectors like hospitality, the business has completely brokedown

These companies are partnering with the outplacement services to provide jobs for the employees who have been fired recently

On the bright side, these companies are partnering with outplacement services in order to help find the employees who have been fired to get a new job. The expenses for the job searching and related activities are being taken by the companies and are not being imposed on the employees

The General Manager at RiseSmart India has said that although layoffs did happen, some of the companies are looking to hire as well. RiseSmart is a staffing company belonging to the global staffing company Randstad. This company has agreed to a partnership with Swiggy, Airbnb, and several other companies to provide outplacement services. According to data, the outplacement in the country has been growing 30% annually

The employees who are recently fired are welcoming this new process. They are hopeful that their previous company is still helping them to overcome this bad situation

The executive Vice president of TeamLease believes that new job openings have dropped drastically to one-third of the pre-COVID times. However, everyone is hoping that the situation becomes stable again

The companies are also asking their employees to update their resumes and skills to find better jobs. One such company is Swiggy. Along with this, they are also extending benefits like paying communication expenses and providing medical insurance until their ex-employees find new jobs. These companies are also offering counseling services.

Zomato has taken one extra step and created a dedicated directory for all these employees so that new companies that are looking to hire these employees can have detailed data about the skills of their employees along with their previous positions. Some of the startups are providing career counseling services and also suggesting alternative career options to the employees

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5 big companies in the country have slashed around 4400 jobs in the last month

In the consumer market space, in the last month only, five major companies have cut over 4000 jobs. This is mostly due to the lack of business during the spread of COVID and lack of demand as well

Recently, on Tuesday, Uber has announced that around 600 jobs are being laid off in the India-South Asia region. Most of them are located in India. The reasons for this as listed by Uber are unpredictable nature during the recovery for the impact of COVID.

In the last month, companies like Uber, Ola, Zomato, Swiggy, Cure fit have announced that layoffs had to be done in order to come out strong in this situation. These five companies collectively laid off around 4400 jobs in the last month. Uber president of South Asia & India had said that these layoffs are part of the previously announced job cuts globally.

  • With the future uncertain for the travel industry, UBER and OLA are cutting of jobs to survive this

Uber’s rival, Ola has also slashed jobs due to the revenue falling well below 95% in the last two months. The company had to let go of 1400 members due to the impact of COVID. A spokesperson at Ola had said that with most of the companies asking their employees to work from home, and travel will be banned for some time, the situation will be very difficult for Ola to recover.

The two biggest food delivery networks of the country, Swiggy and Zomato have also cut jobs in the last months. Zomato CEO has sent an email to its staff that it is expected that 25-40% of the restaurants will be shut down due to the corona impact and to survive this they had to let go of around 14% of its staff. Swiggy had also been hit very hard due to the coronavirus. To come out of this situation, Swiggy had to let go of around 1100 of its staff.

Health and Fitness startup Cure fit had also announced that it had to cut 800 of its employees. The company stated that this is mostly due to reducing costs.

  • Similar to travel, food industry also has been affected greatly. Swiggy and Zomato had to cut several jobs to handle the costs

Along with layoffs, some companies are also issuing salary cuts to their employees. Zomato announced that its staff will take a 50% cut in their respective salaries. Some of the higher-level people in Zomato have already announced that they are voluntarily taking a pay cut of 100%. Similar to this, Ola also announced that several members of the extended leadership team have also taken significant pay cuts.

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Swiggy has announced layoffs for 1100 employees, which is 13% of its total employees

COVID-19 has had its impact on almost everything, starting from the economy to the jobs. Irrespective of the industry, there were economic losses and job cuts. These were necessary by the companies in order to survive these tough times.

Recently, the online food delivery platform Swiggy has announced that there will be layoffs in the company. On Monday, it has announced the layoff of 1100 of its employees in the upcoming days across various grades and functions in its headquarters and all of its branches. A total of 8000 employees are currently working with Swiggy and these layoffs account for 13% of the total employees

This is one of the heavily affected companies with the widespread of Coronavirus and this can continue for some time. The company is now thinking to come back stronger by continuing to build on the capabilities which will help them to make most out of the opportunity when the situation relaxes.

The company believes that they were lucky to raise capital just before the corona situation and now has enough to fight through this. The company is also prepared to face the worst-case scenarios in this dire situation.

The company CEO SriHarsha Majety has said that all the affected employees will receive three months of salary irrespective of their notice period and tenure. He also said that for every year the employees have spent with them, they will receive an extra month of ex-gratia in addition to their notice period pay which will be around 3-8 months salary depending on the tenure.

Swiggy also announced its plans to close down the adjacent businesses which will not be highly relevant for the next 18 months. Majety told that such businesses like Cloud kitchens will be shut down temporarily or permanently based on the outlook and profitability.

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Swiggy is planning to cut 1000 jobs

The food delivery startup Swiggy is planning to cut around 1000 jobs mostly from its cloud kitchen division. In a statement, Swiggy said they are exploring various options to survive this bad phase and focus on the growth and profitability of the kitchen. It also said that this could impact the staff of the kitchen. According to a LinkedIn survey, the company employs about 12,000 of its staff.

But Swiggy did not announce the number of people it was going to layoff, but sources say that it might be close to 1000 jobs. The company is also looking to reduce its monthly burn rate by $5 million compared to $20 million it spends on winning customers.

Swiggy has raised an overall of $1.46 billion as of now, which includes $156 million from an ongoing series fundraising this year. Swiggy competes with Zomato which is backed by ANT Financial. Zomato is also planning to raise $500 million this year by mid-May.

India’s food delivery market is currently valued at $4 billion, according to the research by RedSeer. This market has mostly become a Duopoly since Food panda and Uber couldn’t compete with these existing companies.

The lockdown which happened last month has turned out to be a difficult one for these firms with less than 1 million orders placed from these apps. Usually, it would be around 3 million orders per month. Experts also say that these companies should subsidize the cost of the items, if not most of the customers cannot afford it.

Last year both Zomato and Swiggy have explored other options to increase their revenue. Swiggy has invested a lot in the cloud kitchen which allowed the restaurants to open several branches with very little investment. Last year, it was announced that Swiggy has opened around 1000 cloud kitchens, which is more than any of its rivals. To achieve this, it has invested in more than 1 million square feet of area in 14 cities across the country in the last two years.

Currently, in the lockdown both Swiggy and Zomato, are delivering groceries and other necessary items to their customers.

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