FabHotels fires over 100 employees, to cut salaries of rest by 20%
New Delhi : Budget hotel chain FabHotels is believed to have fired around 100 employees during the coronavirus lockdown in the nation.
According to a report by PTI, one of the impacted employees has told them that the company has laid off staff mainly from operations, tech, sales and supply acquisition teams.
A letter by the company to a sacked employee said: "as per the telephonic discussion with your reporting manager a few days back, we are writing to inform you that as a result of our resource optimisation exercise, your position will be redundant going forward".
Hence, "we would not be able to continue your employment with FabHotels. Your last date of employment with the company shall be March 30, 2020 in line with the contractual notice period," it added.
It has also been learned that the founders will be taking a cut of 25 per cent in the salaries, while a reduction in salaries will also be done for the employees depending upon their CTCs.
The pay cut would be 15 percent for all employees at CTC of less than Rs 25,000 per month and will be 20 percent for those with more than 25,000 per month.