- BookMyShow has laid off 200 people; this is another major layoff since last year.
- Co-founder and CEO Ashish Hemrajani revealed the information in a tweet.
- It is the second major layoff at the BookMyShow from the last year due to theatres’ closures for more than a year due to Covid related restrictions.
BookMyShow, online movie tickets and entertainment events booking platform, has laid off 200 employees; this is the second layoff at the company since last year. In addition, the theatres all over the country are closed since the Covid-19 outbreak or running on 50 per cent capacity at some places.
Ashish Hemrajani, CEO and Co-founder of BookMyShow, tweeted, “Covid-19 has taught many lessons, and I learned one today, as company layoff 200 of the most talented and performance-driven employees.”
He further mentioned that laid-off employees have thanked him for the opportunity at BookMyShow, expressed their love for the company, and asked if they could help in any way. He explored the options for these employees to find new jobs, to help them contribute to their full potential.
“These 200 employees were handpicked by the company and curated for years; they had the highest value of culture, performance, and empathy. So, if you have any leads, please convey me, and together we will do the needful. These people will contribute to the growth of firms,” he said in a tweet.
Last year, the company had to let go of 270 employees as the first wave of Covid hit the country, and theatres were closed for a long. Before the pandemic, it had over 1500 total headcount, which is now reduced to 1000. The second wave and restrictions on the opening of theatres have caused the company to do another major layoff in a year.
BookMyShow earns around 65 per cent of its revenues from movie tickets, with their pay per view movie streaming vertical still at a very nascent stage. The layoff came after the second wave thrashed all the hopes of recovery in the first half of the year.
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