ShareChat lays off 101 employees

In an email, company CEO Ankush Sachdeva named uncertainties in the advertising market as the reason for their dismissal

e4m by exchange4media Staff
Updated: May 21, 2020 2:38 PM

Social media platform ShareChat has reportedly sacked 101 employees or a fourth of its workforce amid the on-going pandemic. In an email to the employees, company CEO Ankush Sachdeva named unpredictability in the advertising market as the reason why the company was compelled to take the step.

The sacked employees have been presented with two options: to take a garden leave or two months or half the salary for four months. Reports also say that they will be provided with a month’s ex-gratia for every year they have been with the five-year-old company. The affected employees will also be covered under ShareChat's health insurance policy until the year-end, according to media reports. The company will also assist them in finding relevant employment opportunities by connecting them with recruiters, organisations and agencies. 

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