Fintech startup Lendingkart lays-off 200 employees

“The company has let go off 30% of employees. The outbreak of Covid-19 and the resultant slowdown has had a tremendous impact on the economy,” a spokesperson said.

“We have been compelled to take some measures to rationalise our employee base across offices to ensure long term sustainable business,” it added.

The management and leadership team have also taken significant pay-cuts, All the retrenched employees will serve a notice period of up to five months, which is more than industry norms, along with extended insurance and medical benefits.

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