{"id":34552,"date":"2020-04-02T03:52:55","date_gmt":"2020-04-01T22:22:55","guid":{"rendered":"http:\/\/officechai.com\/?p=34552"},"modified":"2020-04-02T03:52:55","modified_gmt":"2020-04-01T22:22:55","slug":"corona-impact-bounce-cuts-employee-pay-20-60-acko-lays-off-50-people","status":"publish","type":"post","link":"https:\/\/officechai.com\/startups\/corona-impact-bounce-cuts-employee-pay-20-60-acko-lays-off-50-people\/","title":{"rendered":"Corona Impact: Bounce Cuts Employee Pay By 20-60%, Acko Lays Off 50 People"},"content":{"rendered":"

India’s coronavirus lockdown isn’t even over, but the impact on startups from the lack of business is already being seen.\u00a0<\/span><\/p>\n

Startups have begun giving employees pay cuts and laying off people as they attempt to realign with a world where their business might be impacted, and fundraising might be challenging. On-demand scooter rental startup Bounce said that it was cutting employee salaries by 20-60 percent. “We\u00a0<\/span>have announced salary cuts across the org other than those less than 3 Lakhs p.a,” said Bounce CEO Vivekananda HR. “The pay cut is graded based on salary. Needless to say, founders would take a 100% pay cut. This will give us run-way of beyond 30 months. Glad we raised money when we didn’t need,” he added.\u00a0<\/span><\/span><\/p>\n

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We @bounceshare<\/a> have announced salary cuts across the org other than those less than 3 Lakhs p.a. The pay cut is graded based on salary. Needless to say, Founders would take a 100% pay cut. This will give us run-way of beyond 30 months. Glad we raised money when we didn't need.<\/p>\n

— Vivekananda Hallekere (@vivekanandahr) April 1, 2020<\/a><\/p><\/blockquote>\n