NEW DELHI: Bengaluru-based home adornment aggregation Livspace has laid off 15 per cent of its workforce – or 450 advisers – attributable to capricious appulse on its business during the Covid-19 lockdown times.
Anuj Srivastava, Co-founder and CEO at Livspace, said that absolution go of advisers who accept helped all of us body this aggregation into the ascendant amateur in our industry is one of the best difficult decisions.
“We accept continued their medical cover, accept offered a budgetary amalgamation to advice them in these times, and we accept additionally set up an outplacement cell,” Srivastava said in a account on Tuesday.
Founded in 2014 by Srivastava, Ramakant Sharma and Shagufta Anurag to action end-to-end home architecture experience, Livspace Group has three subsidiaries – Home interior, e-homemaker and Livspace Pte.
Livspace said it has absitively to awning those impacted and their families with bloom allowance for accession three months.
“Every accepted agent who has spent added than 3 months at Livspace will accept added pay proportional to the continuance of their service,” said the company.
It has created an outplacement aggregation aural the aggregation which will advice the impacted advisers acquisition accession career opportunity.
In band with acknowledged requirements, and in accession to the abetment package, advisers will accept one month’s pay for confined the apprehension aeon or in lieu thereof.
“The appulse of COVID on our business has been abrupt and unpredictable. Hence, it was important that we become a bacteria and added focused organization,” said Ramakant Sharma, co-founder and COO at Livspace.
Livspace afresh aloft $157.6 actor in allotment from investors such as TPG Growth, Goldman Sachs, Jungle Ventures, Bessemer Venture Partners and Helion Ventures and IKEA.
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