Cogoport Layoffs

Cogoport laid off around 150 people a few days ago, just before welcoming a new batch of around 100 fresh grads. Employees were told to resign, if someone denied they were terminated. Hearing that they have only 5 months runway left. They haven't paid 1yr retention bonus for many employees, as well as extend probation period from 3 months to 7-9 months because they pay Joining Bonus on completion of probation. They also have a performance management policy where if you don't reach your monthly targets, a certain percentage of your monthly salary will be deducted. Avoid this company at all costs