BookMyShow, the online movie and entertainment ticketing platform, has let go of 200 employees, due to the adverse effects of the pandemic on the industry.
In May 2020, the Company had sent 270 employees on furlough, that is, about 18 per cent of its workforce. With the laying off of these 200 employees, the Company has now shrunk its employee base by more than 35 per cent in a year’s time.
At about this time last year, BookMyShow had a 1,180-strong workforce post the first round of layoffs and furloughs. Employees have been taking a voluntary pay cut of 10 to 50 per cent since the pandemic struck.
With theatres remaining shuttered across the country due to lockdowns and mobility restrictions, online booking platforms have had to suffer extreme revenue loss, of up to 80 per cent.
To try and deal with the situation, the over two-decade old BookMyShow had introduced its BookMyShow Stream, a live streaming platform, a year ago. It even tried to embrace the virtual world, and held online cultural events, such as the Sunburn 2020, the music festival.
Ashish Hemrajani, CEO and co-founder, Bigtree Entertainment, that runs BookMyShow, has expressed on social media, his willingness to help place the laid off employees. He has requested that he be informed of any job opportunities that could be of help to the impacted members of his workforce. Hemrajani has gone out of the way to recommend his committed employees who he is confident will prove to be assets to the organisations they join.
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Source: https://www.hrkatha.com/hiring-firing/bookmyshow-had-to-let-go-200-employees/
