Rapido indirectly doing layoffs

Apparently there was a decision to layoff 20% of workforce which was revoked at last minute by leadership. Good sign or not? Could signal lack of forethought among those at top. What do you guys think?

Rapido will be laying off from all departments in next 1-2 months due to not able to achieve EBITDA +ve. Laying off Funda is totally unacceptable. - what is the 1st thing to do - professionally and personally? - how to reach to the right people to get referrals for operation profile? - how to highlight with every other organisations and awaited employee to join in Rapido?

What was the first sign that your company might be doing layoffs? Was it a random meeting addressed by CEO or some other shit?

Anyone on this app working at Rapido? How much merit increment did you receive? Is it in the low single digit percentages? Merit increment was given as a possibility to make a good amount if company achieves profitability targets, but given the increment is so low, how many employees would actually strive for the company to reach profitability?

Week back there were posts by linkedin engineers that linkedin is hiring SDEs and anyone can as referral and today they laid off 700 people. Like whats happening man!!! Is the company dumb or what?

The company did around 10-15% silent layoffs in the last cycle by putting people in PIP. My Manager told me that he has pressure on him to put at least 1 or 2 people in PIP, make them leave the company and reduce costs. Later, the company did as low an appraisal as 2%. Senior folks are leaving specifically Frontend Developers. Salaries of a lot of SDE-2 are below 30 LPA. They have started new positions called Product Developers which will do the same work as SDEs but with a lesser package. PD-1 salary is around 10-12 lakhs and of Lead PD is 20-22 lakhs. The company is putting itself in a position where it wants people to leave on their own. There are almost zero perks in the company. The team outing budget is a joke which is 2k INR per person per year. That is 500 rupees per person per quarter. Also making office mandatory from November.

Almost 50% of the org got no increments People with "exceeds" rating got single digit increments Only promotion cases have got early to mid double digit increments Promotions have been significantly fewer this time, max people have been told to hold off their expectations of promotions for another year The reasons cited were economic slowdown, other companies like Microsoft, Flipkart, swiggy, Amazon doing the same and cost cutting. I think things are getting toxic and the majority of employees have been left disappointed.

Just a random thought.. please shed some light!!

Lot of Developers are leaving the company (specially frontend) because of low salaries, limited scope of work and Return to office policy. Company is silently creating an atmosphere where developers are leaving on their own. Company is also not planning to provide any good pay raise in the upcoming appraisals. Time to leave the company :(