MakeMyTrip is going to lay off 350 employees as an impact of the COVID-19.
The laid-off employees will be provided mediclaim coverage for individuals and their families till the end of the year. Leave encashment, gratuity, retaining the right to exercise part of restricted stock units will be allowed.
“As we revisited some of our strategic imperatives to be able to sustain our business in the long term, it is evident that the pandemic has changed the context and viability of some of our business lines in its current form. Keeping this in mind, we have had to take this sad but inevitable decision of rightsizing our workforce,” a letter from the CEO to the employees read.
“We are truly appreciative of all the work they have put in over the years to make this organisation what it is today. The staff rationalisation we have had to undertake is mapped to our future business strategy and is in no way a reflection of the work done by people in these teams. We wish them only the very best for what follows from here, and we thank them deeply for their rich contribution to Go-MMT,” it added.