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Ashneer Grover speaks out on tech companies’ mass layoffs

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. He suggested that companies should consider salary reduction instead of mass layoffs.

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” and suggested that companies should consider salary reduction of 25 to 40 per cent instead of mass layoffs. He also mentioned that he has put a maximum cap of 50 people on hiring in his upcoming startup called – The Third Unicorn. 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.

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