Amid declining travel and hotel bookings due to the coronavirus outbreak, online hotel bookings startup Treebo has asked its employees to opt for voluntary resignations.

This will be treated under the paid voluntary resignation scheme (PVRS), which the company rolled out on Monday following a town hall led by co-founders Sidharth Gupta, Rahul Chaudhary, and Kadam Jeet Jain.

Founding team at Treebo“Given the ongoing Covid-19 crisis and its impact on the travel industry, Treebo has launched a paid voluntary resignation scheme to reduce our fixed cost structure and to provide the right opportunities for our highly valued colleagues.

As Sidharth chimed in, “Proud of the team we built at Treebo and pained to see some of them go.

In case the company exceeds its budget, it will be processing applications on a first come first served basis, according to the founders. | To read full story, visit https://startuparound.com/read/1586248204.9940007/Travel-startup-Treebo-Hotels-asks-employees-to-voluntarily-resign,-founders-take-60-pc-pay-cut?ref=audio_experience