Cure.Fit, a health, fitness and food start-up floated by former Flipkart and Myntra executive Mukesh Bansal and Ankit Nagori repectively laid off 1,000 people in India. As per the employee sources, the company had around 5,000 people in January this year. Cure.Fit has multiple branches such as Care.Fit, Eat.Fit, Cult.Fit and Mind.Fit which cover the businesses of health and diagnosis, food delivery and cafes, gym and fitness and mind health and yoga, respectively. As per the several centre managers, fitness trainers and employees of Cure.Fit, the company had forcefully sought resignations from 100 of people on May 1 and all the employees social media chat groups and work emails were deactivated on the next day. However they said the company had agreed to pay salaries for 30 to 45 days.
‘Surjit Singh’ is employed as a trainer in Bengaluru, a boxer from kolkata said -“ Many of us have lost jobs. One of our WhatsApp groups has over 160 employees who lost jobs. My manager called me and gave me two options and both the options were about resigning the job.” So Cure.Fit is backed by Temasek Holding of Singapore. The COVID-19 prompted layoff come just a month after the company raised around ₹832 crore in funding.
And so also the company said in a statement that “Given the current pandemic and restrictions across the country, our business is going through significant changes. The lockdown has affected all our business offerings and we do not see the situation improving for quite some time, considering the pandemic spread has affected all the markets we operate in.”
Meanwhile the company said-“We have downsized our employee base across markets where we have shut operations and have initiated pay cuts across levels. The founders have taken a 100% pay cut, the management team 50% and the rest of the staff, depending on seniority, have a reduction of 20 to 30%”.