Layoffs hit amidst rising inflation, this company fired 600 employees, know the reason

Double whammy of layoffs amid rising inflation

Cars 24, Vedantu, Unacademy and Netflix have fired their employees. According to most companies, this step has been taken in view of the performance of the employees.

At present, people are troubled by rising inflation. However, the situation has become worse for some people. In fact, many companies have recently fired some of their employees and in this list Cars 24 (Cars 24) selling used cars.Cars 24) is also included. According to media reports, the company has recently shown the way out of more than 6 percent of its people. Earlier, Vedantu, Unacademy and Netflix have also laid off employees. companies to people fired from job ,Job Cut) is telling part of the normal process. Although it is believed that the deteriorating economic conditions (economic crisis), fears of cost escalation due to rising inflation have increased the pressure on companies and they are trying to avoid any further difficulties by limiting the number of employees.

Cars 24 fired 600 people

Cars 24 Services Limited has ordered 600 of its employees to leave the company. This decision has been taken at a time when the company is moving forward on its plan of expansion at the international level. However, the company has denied considering it as a layoff. According to him, this is the normal process of business when those who do not work according to the company are thrown out. According to the company, the performance of those who were asked to leave the job was not according to the company. All these 600 employees were working in India itself. At the same time, most of them were in junior positions. A company source said that there is no such thing as lack of funds behind this decision. We are currently proceeding with the expansion plan.

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And which companies cut jobs

At the same time, education tech company Vedantu has fired more than 600 people in two times. The number of employees of the company is about 6000, that is, the company has fired more than 10 percent of the people in the month of May. Like Cars 24, the company has not considered this as a layoff and has called it a decision taken on the basis of the performance of the employees. However, according to the information in the media, the mail sent by the CEO of the company indicates economic concerns. In which he clearly told the fired employees that it is not your fault in this. At the same time, Unacademy has also laid off 600 employees and Netflix 150 employees. At the same time, Meesho, Furlenco have also fired the employees.

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