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BookMyShow lays off 200 as pandemic batters movie biz

BookMyShow, a web-based platform for reserving movie tickets and leisure occasions, has laid off 200 individuals, cofounder and chief government Ashish Hemrajani tweeted on Thursday night.

That is the second main layoff on the firm within the final one 12 months as film theatres largely stay shut and outside occasions have come to a standstill.

In Could final 12 months, BookMyshow needed to
let go of 270 people as the primary Covid-19 wave hit the nation. Earlier than the pandemic, the Mumbai-based firm had round 1,500 individuals. Now the quantity has dipped to round 1,000.

“Covid-19 has taught me many classes & I learnt one other one at the moment. As we let go of 200 of essentially the most extremely proficient & efficiency pushed people, every & everybody has messaged, thanking me for the chance, the love for @bookmyshow, and asking me if they may assist,” Hemrajani mentioned in a tweet thread.

He additionally sought leads for brand spanking new alternatives for the impacted workers in order that they will discover new jobs. “They may contribute extremely to the expansion of your great companies. I’m positive we are going to all come out stronger,” he added.

BookMyShow used to get round 65% of its income from film ticketing. Its pay-per-view film streaming vertical remains to be nascent.

“They (BookMyShow) had thought there could be a full restoration by now, however the second wave has modified all of that. The present layoffs would enable them to deal with the affect of the pandemic for a 12 months,” an individual conscious of the matter mentioned.

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