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BharatPe co-founder Ashneer Grover slams tech companies for firing employees, asks founders to take paycuts instead

BharatPe co-founder Ashneer Grover slams tech companies for firing employees, asks founders to take paycuts instead

BharatPe co-founder Ashneer Grover has always been vocal about things he has been against. This time, it is layoffs that Grover does not support. In his latest LinkedIn post, Grover said that he never had to fire employees due to bad markets.

Story highlights
  • BharatPe co-founder Ashneer Grover says he doesn't support layoffs.
  • Grover said that he has always hired in “considerately”.
  • He said that a salary reduction of 25 per cent to 40 per cent can be considered.

BharatPe co-founder Ashneer Grover has been in the news lately for his new startup and also for not being a part of Shark Tank India Season 2. Grover has always been vocal about things he has been against. This time, it is layoffs that Grover does not support. In his latest LinkedIn post, Grover said that he never had to fire employees due to bad markets.

Stating the reason Grover said that he has always hired in "considerately". In his LinkedIn post, Grover wrote, "It's sad to hear about firings every day. I am thankful that I've never had to fire people because of bad markets- because I've always hired considerately. As a founder, you've to think about the long game."

The BharatPe co-founder said that a salary reduction of 25 per cent to 40 per cent can be considered by companies instead of mass layoffs. In the same post, Grover noted that he doesn't understand why founders can't make this choice instead. "I had posted about 25-40 per cent salary reduction a while back as an alternative to mass firings. I just don't get why founders won't go down that path. Everything gets repriced- energy, capital, technology. Why not people?" his post read.

In the LinkedIn post, Grover also said that he has put a maximum cap of 50 people on hiring in his upcoming startup called -- The Third Unicorn. He also highlighted that people joining his team will only have to focus on growth. "Glad I've put on myself a max cap of 50 people in The Third Unicorn. People joining me will have to worry only about building and growth- I've got my team's back," Grover wrote.

Grover's comment comes after Big Tech companies like Microsoft, Google, Meta, Amazon, and many other firms have announced mass layoffs. Just last week, Microsoft and Google announced laying off 22000 employees together, including many in India. In addition, many Indian startups including Swiggy, Dunzo, inMobi, and GoMechanic have also fired hundreds of employees recently.

Last week, Swiggy announced laying off over 400 employees and blamed macroeconomic conditions for it. The founder also said that he overhired people and that has led to hundreds of employees losing jobs today. "We're implementing a very difficult decision to reduce the size of our team as a part of a restructuring exercise. In this process, we will be bidding goodbye to 380 talented Swiggsters. This has been an extremely difficult decision taken after exploring all available options, and I'm extremely sorry to all of you for having to go through with this," the Swiggy CEO said.

Published on: Jan 23, 2023, 5:32 PM IST
Posted by: BT Siteadmin, Jan 23, 2023, 5:28 PM IST