Representative image.

Source: Reuters

Joining a slew of firms that are cutting costs and revamping operations as a prolonged nationwide lockdown to curb the coronavirus has kept people indoors, the office-sharing startup
WeWork’s India franchise said on Tuesday that it laid off 100 employees, or 20 per cent of its workforce.

Many Indian startups, including restaurant aggregator Zomato and food delivery service Swiggy, have cut down their employees, as they reshape their business in response to the Covid-19 pandemic.

Karan Virwani, chief executive at WeWork India, set up by real estate firm Embassy Group over 2 years ago said,”We have optimised and planned our team strength based on the core business, as we continue to execute our long-term business strategy in India and aim to be profitable by early 2021.”

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