MUMBAI : The social media backlash to widespread job cuts by technology behemoths and startups alike has prompted a section of Indian companies to offer extended benefits to retrenched junior and mid-level employees, but CXOs are increasingly being denied a fair deal.
While some companies are offering benefits beyond the terms of contracts of retrenched employees like extended corporate medical cover till the end of the policy tenure to help them navigate through the tough times, even if they are not on the payroll, CXOs are being let go with just six months of salary compared to the earlier 12-16 months.
“There is a fear of social media backlash among many startups which could hamper future hiring prospects. Some of them have started paying a couple of months additional salaries to the exiting workforce and clearing the full and final payments as soon as possible,” said Kamal Karanth, co-founder of Xpheno, which tracks startup and tech hiring.
