MakeMyTrip has now laid off around 350 employees, as India’s largest online travel operator struggles to survive the fallout from the Coronavirus Pandemic, which has ravaged the trave, hospitality, and tourism sector across the globe.
The layoffs have been primarily undertaken in non-tech functions such as international holidays and related segments, and is across the units, said the announcement.
“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 in these businesses,” noted the announcement.
The latest development comes a little over two months after the company, which has a market capitalization of $1.6 billion, was reported to have initiated pay cuts for around 3000 employees across different levels.
“Over the past two months, we have analyzed the impact closely and have spent considerable time thinking about the path to business recovery. As a result, it’s become agonizingly clear that there are certain lines of business that are far deeply affected and will take much longer than the others to recover,” Kalra and Magow said.