Layoff News: “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 considerably. As a founder you’ve to think about the long game,” Ashneer Grover shared on LinkedIn.
Ashneer Grover’s Statement on Layoffs: Coming down heavily on tech companies for sacking employees in mass numbers, Ashneer Grover, ex-Shark Tank India judge and former BharatPe co-founder asserted that he was thankful that he never had to fire people because of bad markets. For the unversed, Grover has been in the news of late for not being part of Shark Tank India Season 2—a business reality television series where aspiring entrepreneurs pitch their business models to a panel of investors and persuade them to invest money in their idea.
ASHNEER GROVER’S STATEMENT ON MASS LAYOFFS
“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 considerably. As a founder you’ve to think about the long game,” Grover shared on LinkedIn.
Grover suggested that a salary reduction of 25 per cent to 40 per cent can be considered by companies to stop mass layoffs.
“I had posted about 25%- 40% salary reduction a while back as an alternative to mass firings. I just don’t get it why founders won’t go down that path. Everything gets repriced: energy, capital, technology. Why not people?”
“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,” he added.
BIG TECH LAYOFFS
Several big tech giants like Amazon, Google, Microsoft, Meta and others have announced mass layoffs. Latest reports showed that 91 companies have laid off more than 24,000 tech employees in the first 15 days this month, signalling bad days ahead. On average, over 1,600 techies are being fired per day in 2023 globally including in India.