TravelTriangle slashes 250 jobs due to COVID crisis
By MYBRANDBOOK
Due to Coronavirus the travel and hospitality industry has been affected badly. This spread has impacted online travel agencies (OTAs), hotel chains and ancillary services severely. As per news report, amid this outbreak TravelTriangle has carried out mass layoffs.
The news source reported that in past 10 days the company has laid off 50% workforce. “TravelTriangle has fired about 250-300 people since March 20,” said one of the sources on condition of anonymity.
“Impacted employees are from operations, marketing, customer support and business development functions.” Sources also said that a large chunk of the laid-off employees were not paid their standard severance package.
TravelTriangle is an online marketplace for holiday packages. Its business has been almost standstill for the past three to five weeks and a now near hard stop triggered by the COVID-19 pandemic has added to their woes.
TravelTriangle had about 600 employees until last week.
“Since the company has been experiencing almost nil business this month and things are likely to be the same for the next few months or more, it has resorted to a mass layoff,” added the second source. He also wished not to be named.
A couple of months ago, TravelTriangle raised Rs 93.5 crore from South Korea-based KB Global Platform fund and the Nandan Nilekani-led The Fundamentum Partnership Fund I. Sources emphasised that the company is conserving resources and capital to sustain the tough time.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Alcatel-Lucent Enterprise Carrying a 100 year legacy ahead
A good amount of R&D works and global support services are operated out of
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
FRESHWORKS TECHNOLOGIES PVT. LTD.
TVS ELECTRONICS LTD.
QUICK HEAL TECHNOLOGIES PVT. LTD.
ADITYA INFOTECH LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : AMIT CHADHA
Amit Chadha serves as the CEO and Managing Director of L&T Technology ...
Icons Of India : Debjani Ghosh
Debjani Ghosh is the President of the National Association of Software...
Icons Of India : Puneet Chandok
Puneet Chandok is President, Microsoft India & South Asia and is respo...
PARTNER SPEAKERS
PSU
EESL - Energy Efficiency Services Limited Â
EESL is uniquely positioned in India’s energy sector to address ener...
CSC - Common Service CentresÂ
CSC initiative in India is a strategic cornerstone of the Digital Indi...
NIC - National Informatics Centre Â
NIC serves as the primary IT solutions provider for the government of ...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - ANJALI SUD, CEO – Tubi
Anjali Sud, the former CEO of Vimeo, now leads Tubi, Fox Corporationâ€...
Indian Tech Talent Excelling The Tech World - JAY CHAUDHRY, CEO – Zscaler
Jay Chaudhry, an Indian-American technology entrepreneur, is the CEO a...
Indian Tech Talent Excelling The Tech World - PADMASREE WARRIOR, Founder, President & CEO - Fable
Padmasree Warrior, the Founder, President, and CEO of Fable, is revolu...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
