wordpress blog stats
Connect with us

Hi, what are you looking for?

,

Budget hotel chain Treebo lays offs 10% of its employees

Bangalore-based online budget hotel aggregator Treebo is trimming its employee count by 10%. The development was first reported by The Economic Times. Confirming the development to MediaNama, a Treebo spokesperson said that the company has asked 80 people to leave, "which represents less than 10% of our total workforce." According to the ET report, Treebo currently employs 800 people. The spokesperson added that "We have made significant investments on technology products and process innovations since the early days of our journey, even when we were small in scale...This, in turn, has allowed us to now take a critical look at our payroll and other costs, and rationalise them in line with our future plans." The statement read that this is in line with the company's long-standing approach to build a sustainable business. "It is unfortunate that our commitment towards the economic health of the larger organisation has translated into us parting ways with some of our valued colleagues. We have tried our level best to offer them a smooth exit through such things like an appropriate severance package, accelerated vesting of ESOPs for colleagues nearing vesting milestones, and assistance in finding the next opportunity," the spokesperson added. Note that in June, Treebo acquired Events High, a marketplace for events and activities, to expand beyond its offering of budget hotels, and enter into events and activities segment. Post the acquisition, Events High employees were absorbed by Treebo. In August 2017, Treebo had received Series C funding of $34 million led by Hong Kong-based investment firms Ward Ferry Management and…

Please subscribe/login to read the full story.
Written By

Writes about e-commerce, social media, tech and Internet ecosystem.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ