Home Credit India lays off its 1,800 employees

NEW DELHI: Consumer loan finance firm Home Credit India on Thursday said it has reduced its headcount by 1,800 employees due to slowdown caused by COVID-19 crisis.

"The unprecedented coronavirus pandemic has affected every aspect of our life. It has impacted each one of us, our families, our customers, partners and businesses. These trying circumstances have compelled us to revisit and re calibrate our business strategy keeping sustainability and business continuity in mind," the company said in a statement.

"Unfortunately, this includes reducing the size of our team to meet the demands of these exceptionally challenging times. After careful deliberations, we have taken the difficult decision to reduce our headcount by 1,800 employees in India," it said. It is a tough decision and as an organization and the company will try to help the impacted people in getting new opportunities, it said. For the next 12 months, it said, Home Credit India's talent acquisition team will actively support these employees.

"We are confident that we shall come through these unfavourable times to achieve our goals of driving credit penetration and financial inclusion through solutions that are simple, transparent, and accessible to all," it added.

Earlier this month, many companies including Indiabulls Home Finance, HDB Financial Services, Uber, Ola and Swiggy have laid off employees as coronavirus pandemic hit the business.