Online platform for booking movie tickets and entertainment events, BookMyShow, has laid off 200 people, Cofounder and Chief Executive Ashish Hemrajani, revealed in a Twitter thread.
“COVID-19 has taught me many lessons & I learnt another one today. As we let go of 200 of the most incredibly talented & performance-driven individuals, each & everyone has messaged, thanking me for the opportunity, the love for @bookmyshow, and asking me if they could help,” Hemrajani stated in a tweet thread.
He also implored for new opportunities for the impacted employees so that they can find new jobs where they can contribute to their full potential once again.
"These 200 folks were handpicked & curated over years and had surrounded themselves with the highest values of culture, performance and empathy," he wrote, adding, "So if you have leads, please DM me & we will do the needful. They will contribute incredibly to the growth of your wonderful firms. I’m sure we will all come out stronger."
This is the second major layoff at the company in the last year as movie theatres largely remain shut on account of the pandemic. Last May, the firm had to let go of 270 people as the first COVID-19 wave hit the country. Before the pandemic, the Mumbai-based company had around 1,500 people on its rolls. Now, this number has reduced to around 1,000.
BookMyShow earns around 65% of its revenue from movie ticketing, with its pay-per-view movie streaming vertical still at a very nascent stage. The layoffs come as the second wave thrashed all hopes of a full recovery in the first half of the year.