The move comes just a month after Indiabulls said that its senior management had taken a 35% pay cut for fiscal 2021 as part of efforts to control expenses Mortgage financier Indiabulls group has sacked almost 2,000 employees as it aims to contain the fallout of the disruption caused by covid-19, said two people aware of the development.
Several businesses have announced job cuts in recent days because of pressures created by the pandemic and the lockdown, but this is the first major event of layoffs in the financial services sector.
The move comes just a month after Indiabulls said that its senior management had taken a 35% pay cut for fiscal 2021 as part of efforts to control expenses.