Bounce Fires 130 Jobs: Shared Mobility Start-up Bounce lays off 130 Employees

NEW DELHI: Scooter/bike rental platform Bounce on Mon. declared to lay off (fire) 130 employees (or) 22 percent of its overall workforce, a call that is an outcome of a alter in its business priorities in COVID times.

Bounce grew from some hundred rides per day to over 25 mln rides in under 18 mos in Bengaluru alone however revealed mobility startups were hugely effected .

“We’re reinstating the salary of the staff leaving us to the money before the cuts have been declared in Apr this yr.. In the context of the exercise, the overall postponed money going to be given to them,” stated Bounce Co-Creator & CEO Vivekananda Hallekere.

All employees leaving going to be given a severance of 3 mos’ salary, according to their own original salary before the pay cuts.

“We’re granting them the choice of taking this money in 1 go (or) credited to their own accounts monthly. This is to make sure continuity of salary credit,” Hallekere stated in an announcement.

The Bengaluru-based company previously declared to cut salaries around the board.

The firm stated it’d give health insurance for effected employees till Dec.

The revealed mobility start-up in Jan this yr. got $105 mln (INR 749 cr) show D venture capital funds infusion commanded by Accel & the B Capital Crowd.

Before the lock-down, it ran dockless scooters in Bengaluru & Hyderabad(Hyd), with a fleet strength of 13,000 & 2,000 vehicles, respectively.

Bounce had restarted its activities in Bengaluru & Hyderabad(Hyd) in May.