Ashneer Grover, BharatPe co-founder and a former Shark Tank India judge, spoke out about the mass layoffs in tech companies and said he never had to fire employees due to bad markets.
In his latest LinkedIn post, Grover said he has always hired “considerately”. “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,” Grover wrote.
The BharatPe co-founder added that a salary reduction of 25 per cent to 40 per cent could be considered by companies instead of mass layoffs. “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?” he added.
Grover also said he has put a maximum cap of 50 people on hiring in his upcoming startup called – The Third Unicorn. “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 such as Amazon, Microsoft and Google announced tens of thousands of job cuts this month as the economic boom that the industry rode during the Covid-19 pandemic waned.
On Monday, Music streaming service Spotify was the latest company to cut 6 per cent of its global workforce, or about 600 jobs.
