Leading Indian ticketing platform BookMyShow prepares to break US$1bn valuation mark following stake sale
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A year and a half into the pandemic, the Indian ticketing firm has been forced to make a further 200 redundancies
By Jon Chapple on 18 Jun 2021
Indian ticketing giant BookMyShow has laid off another 200 employees as coronavirus restrictions continue to hurt demand for live entertainment and cinema.
BookMyShow, headquartered in Mumbai (Bombay), is India’s biggest online ticket seller, shifting as much as 50% of the movie-mad country’s cinema tickets and ticketing many of its major live music events. It also operates as a co-promoter for international concerts, such as U2’s historic Mumbai show in December 2019, one of the last before the pandemic hit.
New initiatives such as the launch of livestreaming solution BookMyShow Online in mid-2020 haven’t been enough to avoid further redundancies, following an initial round of 270 lay-offs last May, according to CEO Ashish Hemrajani, who announced the redundancies on Twitter.
Hemrajani tweets that BookMyShow has been forced to let go of “200 of the most incredibly talented and performance-driven individuals” who had been been “handpicked and curated over years”, and that announcing the lay-offs was the “right thing” to do to enable them to find new jobs quickly.
“I’m sure we will all come out of this stronger”
He has asked other companies who have openings for the staff to send him a message on Twitter or email email@example.com with information.
“I had two thoughts: one of managing optics, or two just doing the right thing,” Hemrajani explains. “And for me, finding each of them a new home, where a new journey can begin, was the easy choice. So if you have leads, please DM me and we will do the needful.
“They will contribute incredibly to the growth of your wonderful firms. I’m sure we will all come out stronger.”
At press time, India had around 60,000 daily cases of Covid-19. While heavy restrictions remain in many areas, some states, such as West Bengal and the Punjab, are again opening up, with restaurants, bars and cinemas allowed to operate at 50% capacity.
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