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MakeMyTrip lays off 350 employees, citing biz slowdown

MakeMyTrip has laid off 350 employees, or 10% of its workforce, citing slowdown due to global travel restrictions owing to coronavirus lockdowns, reported CNBC-TV18. A company spokesperson confirmed the developed to MediaNama. "As a business, we are going through the most difficult crisis that we have faced till date and there is no let-up in sight," CEO Deep Kalra said in a letter to employees. Teams working on international holidays and related operations were impacted. Affected employees were put on notice starting June 1. Employees will get mediclaim for themselves and their families till year-end, leave encashment, gratuity, and retention of company laptops. In March, Kalra and Rajesh Magow, who took over as group CEO in February, said they would draw zero salary, while the rest of leadership offered to take a 50% paycut, starting April 2020. International travel had slowed down in March itself, as shelter-in-place and lockdowns kicked in worldwide. In India, domestic travel was suspended on March 24. Domestic flights resumed a third of all operations after two months on May 25. However, restrictions remain as states can define their own rules for incoming passengers. Karnataka, for instance, has requested the Ministry of Civil Aviation to reduce flights into the state.

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