Zomato employees take deep salary cuts amid COVID-19 lockdown
The Zomato CEO in a series of tweets said that said that dining out business has been badly hit in many countries owing to the virus outbreak and the lockdown.
The coronavirus outbreak has forced a lockdown in countries across the globe. All but essential services have been suspended in order to contain the spread of coronavirus. Amid the present circumstances, Zomato CEO Deepinder Goyal has announced that hundreds of employees have taken a deep voluntary salary cuts to help the company maintain a steady cash flow.
The Zomato CEO in a series said that said that dining out business has been badly hit in many countries owing to the virus outbreak and the lockdown. "Also, fwiw, to conserve our own cash flows, hundreds of Zomato employees have taken deep voluntary salary cuts. We are also donating for our delivery partner fund, as well as Feed the Daily Wager campaign to support the community during these times," Goyal wrote in a tweet.
Apart from talking about how the business had been affected by the lockdown, Goyal also announced several measures to help its customers and its partners.
"All paid Zomato Gold memberships across India, the UAE, Australia, Indonesia, Philippines, Lebanon, Turkey, New Zealand, Portugal and Qatar will get a two month membership extension at zero cost," he wrote in another tweet.
For its Gold partners (dining out) and restaurant, the company said it will facilitate working capital loans to get through this tough time.
"Dining out in many countries is badly hit. For our Gold partners (dining out), we'll be facilitating working capital loans to get through this tough time," he wrote in a tweet adding, "We are also going to facilitate loans for our food delivery restaurant partners - thousands of restaurants have been severely hit because of their immobilised workforce due to the lockdown."
He said the Zomato is starting a fund to cover up the lost earnings for thousands of its delivery partners. "We are also starting a fund to cover up the lost earnings for thousands of our delivery partners. We also hope that we get government support to help us with this," he added.