Confirmed - Rapido layoff | 200 employees

In this IT recession, where Rapido and many other organization hired IT employee at 5x-10x salary and now they are not able to pay because they are not growing. Due to which other teams like Marketing, Operations, Sales, Finance all are suffering because : 1. Company made policies that appraisal will be on variable based and only be given when company achieves EBITA +ve, if not no employees will get appraisal which is really frustrating. 2. Outside, because of IT recession, no other companies are hiring for any field and due to this reason Rapido taking the advantage of employees of giving extra load of work with minimal employees , no salary increment because targets are high to achieve EBITA +ve. So, employees have no options left to do anything. What and how to get rid of this situation and how to get better opportunity via referral? Any better suggestions?

Apparently there was a decision to layoff 20% of workforce which was revoked at last minute by leadership.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?

Need a referral for a creative role in Rapido, please do help if you can.

I have been hearing from multiple friends across organizations in India. Lay offs are not in news but happening silently across boards. Companies are on cost cutting mode. Interesting year ahead

Checking if there is anyone here who has had to layoff people... How did you do take it mentally and emotionally? Looking for answers from middle managers and HR folks who have to execute decisions taken by others.

Issue at @razorpay all other folks do pitch in. All other people who have offer from Razorpay or joining Razorpay please check this and ask the team from HR is that team is profitable before joining .

List of companies doing silent layoffs using PIP and Cultural fit issues. Myntra Flipkart Meesho Cars24 Smallcase

Post phonepe declined to acquire Zest, following ate the scenarios at Zest : 1. 33% employees laid off 2. 33% employees were hired at Phonepe 3. 33% employees have jobs at Zest but they are thinking Zest to be a sinking ship so might move away.

Shopflo laid off 28% of the team today - still don’t understand how this company exists and is hoping to make any money. Having no idea what to do next, they’re desperate to travel to US now to try and capture market there - reminder that this is a market with Fast and Bolt, both massively funded, shut down completely 🤡