A Bengaluru based mostly CEO’s story of shedding 70 staff is incomes reward after he shared how his firm dealt with the method. OkCredit CEO and founder Harsh Pokharna took to LinkedIn to share the story of the time his firm needed to let go off 70 staff as a consequence of budgets constraints.
OkCredit CEO and founder Harsh Pokharna took to LinkedIn to share how his firm dealt with shedding 70 staff without delay.(LinkedIn/Harsh Pokharna)
“18 months ago, we laid off 70 people. Here’s how it went: We were burning too much. Hired too fast. It was our mistake. And we owned it. It was one of the hardest things I’ve done as a founder. But we tried to do it the right way,” he wrote, detailing the corporate’s subsequent steps for it staff after asserting the layoffs.
Pokharna mentioned that when they have been laid off, the corporate had a dialog with every of the 70 staff and defined why they needed to be let go. “We gave them 3 months’ notice.
Helped with referrals, intros, job leads – anything that could help. 67 got placed before the notice period ended. For the 3 who didn’t, we gave 2 months’ extra salary,” he mentioned.
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“That’s inhuman. Yes, layoffs happen. But how you handle them says everything about your culture. I know it’s tough to have these conversations, but this is what you signed up for when you became a founder. If you call someone “family” while hiring them, treat them like family when letting them go too,” he highlighted.
The submit resonated with many on social media who praised the CEO for his thoughtful actions after layoffs. “Respect for handling it the right way. More leaders should follow this example,” wrote one consumer, one other CEO.
One other co-founder additionally praised Pokharna’s actions. “Such a powerful reminder of what it means to be a true leader. I respect the way you navigated this, and it’s a model for all of us who aim to build a people-first culture,” he mentioned.
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“It’s sad how many companies treat people so badly during layoffs. I think everyone deserves to be treated with dignity, especially when things are hard. That kind of respect really matters. You did great,” wrote a startup CFO.