The news is quite a shocking news, when big wigs like Foodpanda, Tiny Owl, Housing.com, etc. keep firing employees. Is it safe to join these companies as a professional? These companies are treating employees as Garbage; soon time will come when they become extinct,
I think one news in the newspaper like this would turn all the believers associated with the startup to think again about their time and money invested in the company. At the same time send shockwaves all across the industry with a stream of bad reviews on portals like Glassdoor, mouthshut.com, and payscale.com.
The reaction is not only restricted to only the startups but with any company, If we remember TCS did a mass firing few years back and I am sure that in order to attract the right talent now even TCS might have to shell out more money.
I think the industry bodies like NASSCOM, FICCI etc. should have a Career Credit Rating of the company, which is published every quarter.
This might help all the job seeking candidates to choose the companies wisely at the same time help the companies as well; Higher Carrer credit rating companies can hire better talent at Lower cost. Indians are in general conservative professionals as compared to professionals in US and UK.
The industry bodies can tie up with the various HR consulting companies to come up with parameters that would define the parameters and the process to deriving the Carrer Credit Rating of the companies. On the other hand, the job portals like Naukri, Monster, etc. should publish these rating against each job posting.
These are my first thoughts when I read the news, I will try to do some more research on this, I would be happy to discuss any thoughts, ideas, and comments on the topic which helps to create a better ecosystem for both the companies as well as job seekers.