A fintech startup company called Fam in Bengaluru recently let go of 18 of its workers. Even though firing employees is no news to the Internet, especially after the brutal layoffs that recently shook the IT world, this company is going viral for doing so.
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- Bengaluru Startup Helps Fired Employees Find Jobs
- The Start-Up Founder Got Slammed Online
Bengaluru Startup Helps Fired Employees Find Jobs
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One of the founders of Fam, Sambhav Jain, recently took to Twitter to share a new update on what was going on behind the scenes in his company. In his now-viral tweet, Jain gave the reasons behind his decision to fire 18 of his employees. He explained that they are changing how they do things, moving from fast growth to being more sustainable.
One of the most difficult things to do as a founder is to let people go. Today was a tough day as we had to let go 18 members of the Fam across functions. Parting ways is never easy, especially for a people-first organisation like ours, where everyone is emotionally connected.
— Sambhav Jain (@_SambhavJain_) August 2, 2023
He also mentioned how tough it is to say goodbye to team members who matter a lot to him, especially in a company like Fam that cares a lot about its people and puts them first. He wrote, “We wouldn’t have been able to provide these people with a role in the company that could justify their personal growth, could fuel the fire to their passion, and most importantly joy at work.”
With that said, Jain reiterated that the startup has great compassion for these employees and believes in their abilities. To close his update, Jain added that anyone looking for employees in “EPD and Growth functions” can contact him for further information on these employees.
We have all the compassion for them and are confident that these people will build amazing things wherever they go, and wish everyone the best in life. If you’re looking to hire people in EPD and Growth functions, please DM. Will be happy to share and refer relevant profiles.
— Sambhav Jain (@_SambhavJain_) August 2, 2023
The Start-Up Founder Got Slammed Online
While most would think that the startup owner was being generous in his speech by offering his employees help getting hired elsewhere, Twitter had other ideas. Many mentioned how it was wrong of the founder to call his organisation “people-first” when the first action they take towards a sustainable plan is to fire the employees.
As a business, people are hired & fired but don’t call yourself ‘people-first’ or ‘family’ if the first thing you do when funding shrinks is firing people… Family doesn’t throw out its members when ration is less
— Abhijeet Kaushal (@Abhikau04787027) August 2, 2023
Over hiring karte hi kyu ho jab sambhal nai skte.These polished tweets don’t justify the reason Passionate team bhi chaiye layoff bhi karna haiAlso, Companies ready to give 30,50, 100% hike to new employees but the employee who worked passionately gets “You have been fired!”
— Vidhi Aggarwal (@VidhiAggarwal12) August 3, 2023
What a hypocrisy! A so called people-first company fires people during difficult situation. Could you brief what other actions you have taken before reaching to thi decision? How much pay cut you have taken yourself?
— Pratik Nirhali (@pratiknirhali) August 3, 2023
Others demanded he outline any other measures the company took to fill the gaps before opting to fire the employees. Among the many who came to stand up against Jain, some offered him sympathy and understanding.
Not right by any means. Highlight any other measures also taken or this was the only call.
— anubhav saxena (@shanu6490) August 2, 2023
It’s going to get better bro, rooting for you and kush 🙂
— Aarihant Aaryan (@AarihantAaryan) August 2, 2023
It’s part of game bhai. Only founders could understand how it is.
— Pufflesceo (@pufflesceo) August 3, 2023
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Source: vtt.edu.vn