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Online travel aggregator MakeMyTrip (MMT) will lay off around 350 employees, comprising 10% of the workforce, citing slowdown in the business due to global travel restrictions to contain the spread covid-19. Goibibo and MakeMyTrip had merged their businesses in 2017. In an email to employees, MakeMyTrip’s chief executive Deep Kalra said the global pandemic has affected travel and tourism sector and that there is a need to ‘revisit’ some business strategies as the company doesn’t expect the travel market to bounce back up soon.
Globally, the travel and tourism sector has been the worst hit following the covid-19 pandemic. In India, with commercial flights both domestic and international suspended till recently, homestays and hotels have also been hit.
The Indian government has now allowed resumption of domestic flights in a staggered manner but many states have opposed the move, following a surge in cases after interstate movement was allowed. The company will also ensure gratuity payments, and outplacement support for all the 350 employees.
