Health and fitness startup Curefit has laid off a whole lot of workers, reduce salaries throughout ranges because it downsizes its operations as a result of Covid-19 pandemic, the corporate stated in an announcement.Along with the layoffs, the corporate has additionally carried out wage cuts throughout ranges. While the corporate founders will forgo their salaries, the administration staff and different workers can be taking a 50-20% pay reduce as a part of a plan to chop prices, the corporate stated.
“Given the current pandemic and restrictions across the country, our business is going through significant changes. The lockdown has affected our business offerings and we do not see the situation improving for some time… This unprecedented situation has forced us to close operations in small towns in India and the UAE,” the corporate stated.
An official assertion. https://t.co/IFHcjKKIbz
— treatment.match (@BeCureFit) 1588592279000
Apart from metro cities, it had a presence in cities like Indore, Amritsar, Kochi, Kota, Chandigarh, Jaipur, Surat, Jammu, amongst others.Reuters first reported on Monday that Cure.Fit has laid off as many as 800 workers, nevertheless, the corporate didn’t supply any particulars on how many individuals had been being let go as a part of the retrenchment.ET has learnt that apart from shuttering a few of its health centres beneath Cult.Fit, the corporate has additionally shut down quite a few its cloud kitchen shops that are branded as Eat.Fit.
The firm, led by former Myntra co-founder Mukesh Bansal and former prime Flipkart government Ankit Nagori, lately raised Rs 832 crore led by Temasek, the Singapore authorities-backed funding firm.
“As many as 90% of the Cult.Fit trainers continue to be with us and have been moved to a fixed plus variable model to tide over the crisis. All employees part of the downsizing have been provided with a significant severance package to help them with the current situation, including extended health insurance for them and their families,” the corporate stated.
A lot of disgruntled workers took to social media to precise their anguish after the layoffs and wage cuts.
@KTRTRS Hello sir my title is Akhil and I’m working for a corporation referred to as Curefit they referred to as us this morning and to… https://t.co/FmvQWZjXYz
— Akhil Babu (@AkhilBa35470517) 1588516118000
ET had earlier reported that Eat.Fit has been scouting for buyers because it places as many as 18 of its amenities up on the market in cities like Chandigarh, Jaipur, Ahmedabad, and Vadodara.
The firm, which strengthened its on-line lessons after the lockdown, stated it would additional ramp its digital health choices and in addition present medical providers at house. “We are also doubling down on health food & essentials home delivery while maintaining rigorous hygiene standards across all our kitchens.”
CureFit is an built-in platform which gives well being, wellness, meals and merchandising by way of a number of manufacturers, together with a sequence of health centres beneath the model CultFit, healthcare clinics referred to as CareFit, and psychological wellness service beneath the model ThoughtsFit.