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Indian startup Bounce tightens belt further by cutting 130 staff

Scooter rental company had already slashed pay to fight COVID effects

Bengaluru-based startup Bounce cuts staff as it tries to find footing amid coronavirus pandemic.    © Reuters

BENGALURU -- Scooter and bicycle rental startup Bounce is laying off 20% of its staff, or 130 employees, in a second round of belt-tightening as the effects of the coronavirus pandemic continue to ripple through the industry. 

The Bengaluru-based company had already announced salary cuts in April to avoid redundancies. Founders Vivekananda Hallekere, Varun Agni and Anil Giriraj had stopped drawing their salaries, while the rest of the employees agreed to take 20% to 60% pay cuts in exchange for stock options.

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