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Bengaluru, India, Jan 2023 - Exotel, a customer engagement platform based out of Bengaluru, has laid off 15 per cent of its employees in the latest lay off rounds, Business Today has learnt.
In the latest downsizing round, the company terminated 142 roles comprising 15 per cent of its workforce after a change in the company's Performance Improvement Program (PIP), a source close to the matter told Business Today. The terminated employees were allegedly also not provided with severance pay.
"Company PIP policy was changed just 15 days before to accommodate the layoffs," the source said.
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An internal note sent by the company's CEO, Shivakumar Ganesan, tried to justify the change in PIP model by saying, "In the model today, there is no appetite for risk.
Employees claim that as per the new PIP policy, the employees were given no warnings post which they could improve their performance. Furthermore, the beginning of PIP was identified as start of the notice period.
"The mandatory clause of two performance warnings before initiating a PIP was removed from the policy, also the notice period of employees was started along the PIPs," the source noted.
Posted by Veronica Silva Cusi, news correspondent
Source: https://www.businesstoday.in
About Exotel:
Exotel is a cloud telephony service provider for small and medium enterprises in India. It provides virtual phone numbers and telephony applications to businesses.
Published: Monday, January 23, 2023
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