COVID-19 layoffs expose fault lines between staff expectations and reality of Asian startups

Photo: Roadtrip with Raj/Unsplash

“I’m not against layoffs, but Cure.Fit did it in an unprofessional way. It has been over a week and we have not got any official written communication,” said Aiswarya Krishna Vadakkoot, a fitness trainer and among those recently let go by Cure.Fit.

The India-based fitness startup, founded in 2016, has raised $400 million so far, with investments from Temasek Holdings, Accel Partners, Kalaari Capital and Chiratae Ventures India. The latest round led by Temasek was in March when it secured $109 million. The startup operates in more than 100 locations across key cities in India and had launched in Dubai in 2019 – the first destination in what was to be an ambitious expansion plan.

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