CarDekho has joined other Indian startups to downsize its employees due to COVID-19. According to a media report, the company has laid off around 200 employees, and initiated pay cuts across the board.
Apart from letting go of a huge number of staff the company has opted for pay cuts across levels. In a company email, staff with a salary between Rs 2.5 lakh to 5 lakh have to bear 12% pay cut and those who earn between Rs 5 lakh to 15 lakh will get 15% deducted salary effective from May to July.
The salary cut scheme goes up to 20% for those who earn between Rs 15 lakh to 40 lakh whereas Rs 40 lakh and above earning employees will receive 22.5% deducted salary. The firm has given an exemption to low-income groups with an annual salary below Rs 2.5 lakh while senior management level will bear the highest pay cut of 45%, said the report.
The current crisis has impacted all the major sectors and the automobile sector is also one of them. Overall the car sales have gone down and auto classified companies are also bearing the brunt of this crisis. Other companies such as Ola, Uber, Swiggy have also announced layoffs earlier this month.