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On LinkedIn, Harsh Pokharna, the CEO and creator of OkCredit, revealed his tale about how his company had to lay off 70 people owing to budgetary constraints. The CEO, who is headquartered in Bengaluru, is receiving attention on the internet after helping his employees find new employment after firing at least 70 of them.
In a LinkedIn post, the CEO wrote, “18 months ago, we laid off 70 people. Here’s how it went: We were burning too much. Hired too fast. It was our mistake. And we owned it. It was one of the hardest things I’ve done as a founder. But we tried to do it the right way.”
According to the post, the company had one-on-one discussions with each of the 70 workers to explain the reasons behind them being laid off, “We gave them 3 months’ notice. Helped with referrals, intros, job leads – anything that could help. 67 got placed before the notice period ended. For the three who didn’t, we gave two months’ extra salary,” the post said.
The CEO added that, in general, many workers who lose their jobs don't even get a personal call; instead, they just receive impersonal emails informing them of their termination. Pokharna elaborated, “That’s inhuman. Yes, layoffs happen. But how you handle them says everything about your culture. I know it’s tough to have these conversations, but this is what you signed up for when you became a founder. If you call someone “family” while hiring them, treat them like family when letting them go too.”
See the LinkedIn Post here:
Many people on social media praised the CEO for his kind and considerate actions. One user commented, “Respect for handling it the right way. More leaders should follow this example."
Another co-founder praised Harsh’s actions, Such a powerful reminder of what it means to be a true leader. I respect the way you navigated this, and it's a model for all of us who aim to build a people-first culture. "