Udaan sacks thousands of contract staffs

When the going gets tough, the tough get going, the global pandemic Novel Coronavirus is a curse to the mankind ,which took the life of more than 2,03,000 humans across the world with 30 lakh coronavirus proved cases created a panic button across the globe.

The coronavirus COVID-19 is affecting 210 countries and territories around the world and 2 international conveyances. The economic fallout is costing more than $3.0 trillion in lost output and this brings a great risks to global supply chains, and a large-scale model of the global economy.

India has no exception, Many businesses facing forced closure/demand destruction. About 25 different sectors are badly impacted and GDP of the country touching the bottom .An expert says, when there is no commerce is happening ,on that case how the question arises on the e-commerce company to survive. When they could not survive, then where they will get fund to pay the salary and bear other expenses.

There are millions of jobs across sectors are on the stake. Weather it is startups – early stage, growth stage, or even the poster boys – are now facing the brunt.

The Bengaluru based B2B e-commerce start-up Udaan has reportedly fired thousands of its contract employees to save cash amid the lockdown, the report says. Several people took to Twitter to complain about the termination, claiming that they were fired through a single e-mail without any prior notice.

Udaan’s business model is the offering a competitive marketplace model and providing working capital loans to the sellers on its platform, the company also offers logistics services, a sector that has taken a big hit during the nationwide lockdown.