Covid-19 crisis: Consumer internet start-ups brace for salary cuts, layoffs

Companies taking extreme steps to continue to stay afloat amid Covid-19 crisis

Consumer internet start-ups in India are bracing for measures like salary cuts and layoffs to mitigate the impact of losses after the nationwide lockdown to contain the spread of Covid-19. For now, Bounce, Shuttl, Fab Hotels, Instamojo, Zomato, Curefit, and HealthifyMe, among others, are going for salary deductions, according to multiple sources.
 

At Bounce, the Sequoia-backed scooter sharing start-up, co-founders Vivekananda Hallekere, Varun Agni and Anil Giriraj are taking a 100 per cent pay cut. For others the extent of reduction would be 20-60 per cent.

"Pay cuts will ensure no jobs are lost irrespective of the economic situation,