MakeMyTrip: A Bumpy Ride Amid Layoffs
MakeMyTrip, headquartered in New Delhi, is a leading Indian online travel company that has revolutionized the way people in India book their travel and accommodation. The company offers a wide range of services such as hotel reservations, air ticket bookings, holiday packages, and more.
Founded in 2000 by Deep Kalra, MakeMyTrip first started as a small online travel agency. With the Indian travel industry growing rapidly, MakeMyTrip soon spread its wings and became a name to reckon with in the travel industry. Over the years, the company has received funding of $548 million and has become a household name in India.
The company has been performing well, with their revenue constantly increasing over the years. However, amidst the global pandemic and the subsequent economic slowdown, MakeMyTrip faced a major setback. On August 31st, 2020, the company laid off around 350 employees, which accounted for 10% of its workforce.
This came as a shock to many, especially to those who have been associated with the company for a long time. MakeMyTrip was quick to release a statement after the announcement, stating that the layoffs were necessary for the company to remain profitable in the current economic environment.
MakeMyTrip is not the only company in the travel industry that has been affected by the pandemic. With travel restrictions imposed and people refraining from travelling, the industry as a whole has taken a big hit. MakeMyTrip, being one of the major players in the industry, had to take steps to survive the crisis.
The layoff percentage may seem high, but MakeMyTrip has stated that they have tried to minimize the impact on their employees by providing them with a severance package. The company has also offered assistance in finding alternate employment for those affected.
The layoff announcement has caused mixed reactions, with some empathizing with the company’s circumstance, while others criticizing them for their decision. Many are concerned about the future of the travel industry and how it would affect the economy.
Despite the setback, MakeMyTrip remains positive about the future. They have stated that they will continue to innovate and adapt to the changing travel environment. The company is confident that they will emerge stronger from this crisis.
In conclusion, MakeMyTrip has been a major contributor to the Indian travel industry, and despite the recent setback, their journey has not come to a halt. The current situation may be tough, but with perseverance and determination, they will bounce back. It remains to be seen how the travel industry will fare in the future, but MakeMyTrip is ready to rise to the challenge.