{"id":34750,"date":"2020-05-05T04:08:21","date_gmt":"2020-05-04T22:38:21","guid":{"rendered":"http:\/\/officechai.com\/?p=34750"},"modified":"2020-05-05T16:12:50","modified_gmt":"2020-05-05T10:42:50","slug":"curefit-layoffs","status":"publish","type":"post","link":"https:\/\/officechai.com\/startups\/curefit-layoffs\/","title":{"rendered":"Curefit Lays Off 800 Employees, Shuts Operations In Small Towns"},"content":{"rendered":"

The strain is already beginning to show for companies that have been hardest-hit by the coronavirus pandemic.<\/span><\/p>\n

Fitness startup Curefit has reportedly laid off as many 800 employees, and permanently shut down its centers in smaller towns. “Given the current pandemic and restrictions across the country, our business is going through significant changes. The lockdown has affected all our business offerings and we do not see the situation improving for quite some time, considering the pandemic spread has affected all the markets we operate in. This unprecedented situation has forced us to close operations in small towns in India and the UAE,” the company said in a statement.<\/span><\/p>\n

\"curefit<\/span><\/p>\n

“While we are doing everything we can to solve for our customers, we also need to adjust to the new realities and manage costs to ensure the long term viability of the business. We have downsized our employee base across markets where we have shut operations and have initiated pay cuts across levels. The founders have taken a 100% pay cut, the management team 50% and the rest of the staff depending on seniority have a reduction of 20 to 30%,” Curefit added. <\/span><\/p>\n

Curefit said that it had adopted a fixed plus variable model that had helped it retain most of its trainers. “90% of the cult trainers continue to be with us and have been moved to a fixed plus variable model to tide over the crisis. All employees part of the downsizing have been provided with a significant severance package to help them with the current situation, including extended health insurance for them and their families. Further, we will provide our full assistance in out-placing them in the coming days. We have also created an emergency fund of Rs 2 Cr to support affected employees in the coming months,” Curefit said.<\/span><\/p>\n

Curefit employees had earlier taken to social media to complain about how they had been abruptly laid off. “They called us this morning and told us to resign our jobs,” wrote an employee on Twitter.<\/span><\/p>\n

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@KTRTRS<\/a> Hello sir my name is Akhil and I am working for a company called Curefit they called us this morning and told us to resign our jobs in this crucial pandemic period sir and they also removed more than 40 members of our team this please help us sir<\/p>\n

— Akhil Babu (@AkhilBa35470517) May 3, 2020<\/a><\/p><\/blockquote>\n