Curefit is a health and fitness company that aims to offer digital and offline help to stay fit and healthy.
Curefit gives workout a different meaning and with the group of trainers and workout classes. The only aim of cure.fit is that people should live a healthy life and as people are following digital media more and are busy with the rest of the work undone, they try to cover up their nutrition and fitness in their workout classes.
From the past few days, the Bengaluru based start-up which is always there in the good books and now it is curtailing its operations, and laying off trainers at the gym in tier-II markets in India, Delhi and the United Arab Emirates.
Criticism for the first time:
Cure.fit is facing strong criticism for which they are handling the crises. The start-up has to rethink its business model due to the coronavirus pandemic. It has been covered by the media that many employees have accused the company of forcing them to resign.
About 800 employees are asked to resign due to the alteration in the business model. On the other hand, it is said that CureFit’s severance package is just Rs2 crore but the start-up has raised a fund of Rs5 crore to the PM Cares Fund.
Misinformation regarding the Start-up:
They have laid off 300 employees who were from smaller towns and hired for a future extension. This covers the supporting cent of the business. The rest 90 percent are filled with CureFit. In fact, they are supporting them in all the ways possible. There are some alterations in the compensation model and that is been done to tackle this crisis for the long term.
Even about those 300 trainers who have been laid of, the start-up is providing them two months severance with two months’ salary with health insurance for an extended period of time. Funds are also arranged for them which they can use anytime. Trainers are always provided nutrition packages and all the kinds of trainings which they really need. Moreover, the company is empathetic to the trainers as anyone can be.
Zero Revenue by the Cults:
From the past few months, Cult has had zero revenue. And it is believed by the founders and trainers that gyms would be the last to come after this crisis as it is the only place where several people gather especially in our model.
The most important question arising was that if the company is laying off 800 people, the start-up is giving them Rs2 crore, and the PM relief fund is receiving Rs5 crore from the company.
Laid-off employees are not just from the Cults:
The founders said that 800 people are not just from the Cult, but from the entire organization which includes Kitchen staff, Delivery staff, Central staff, and trainers. For the staff, they have kept aside Rs 25 crore which is the compensation they will pay for the next seven to eight months.
The severance amount across 800 employees is Rs5 crore and 2 crore is for the emergency fund set aside for any kind of emergency And all the trainers are aware of the compensation.
An initiative to fight against the Coronavirus Pandemic:
Regarding PM Cares Fund, the money for this fund is going those persons who are not even able to have some food. The founders exclaimed that as they have done well in the ecosystem, it is their duty to contribute.
The money has been contributed both by the team and the founders. The money that has been gone for the ACT is from the management which will help to combat the current coronavirus pandemic.
~ Kanika Khatri