Meeso, an Indian e-commerce company that started with much fanfare in 2015, has once again announced layoffs. In the second round of retrenchment, the company is showing the way out to 15 percent of the employees. The company has said goodbye to about 251 employees. Even before this, MISO had shown the way out to about 150 employees.
Taking the decision of retrenchment with a heavy heart, Meta funded company Meeso has also announced showering of benefits on the employees. The company has made several announcements saying that it will support the fired employees. The company will pay 2.5 to 9 months salary to the employees affected by the retrenchment. However, this salary will depend on the designation of the employee and the time spent in the company.
You will get all these benefits
According to Meeso, the employees fired from the company will be given more benefits along with salary up to 9 months. These employees will continue to get the benefit of permanent insurance. Apart from this, the company will also help these personnel in job placement. At the same time, the ESOP given by the company will also be paid as soon as possible. The company has issued this decision while issuing internal mail to the employees.
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Why are layoffs happening?
According to the mail of the company, there is no shortage of cash reserve with the company. The company has also done great growth. But citing the cost, the company has decided to lay off. This decision has been taken because the cost of the company is more than the expenses of the company. In the last few months, after IT companies, the process of layoffs in startups has increased rapidly. Earlier, 600 employees were also shown the way out in the Indian social media app Sharechat.
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