OkCredit CEO Harsh Pokharna explained how he handled laying off 70 employees with respect, giving them three months notice and helping them find new jobs.
The CEO is getting praise for handling the layoff of 70 employees. Harsh shared the story on LinkedIn about when his company had to let go of 70 workers because of budget problems.
CEO Helps Laid-Off Workers Find New Jobs and Offers Extra Support
“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 have done as a founder. But we tried to do it the right way,” he wrote, explaining what the company did to help the employees after the layoffs.
“Helped with referrals, intros, job leads – anything that could help. 67 got placed before the notice period ended. For the 3 who didn’t, we gave 2 months’ extra salary,” he said, explaining how the company supported the employees during the transition.
Have a look at the full post here:
CEO Stresses Importance of Compassion in Handling Layoffs
The CEO compared this to the current layoffs in the tech industry, saying most workers who lost their jobs didn’t even get a call. They only found out by email.
“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,” he highlighted.
Leaders and Founders Praise CEO for His Approach to Layoffs
The post got a lot of praise on social media, with many people appreciating the CEO for his thoughtful actions after the layoffs. “Respect for handling it the right way. More leaders should follow this example,” wrote one user, another CEO.
Another co-founder also praised Pokharna’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,” he said.
“It’s sad how many companies treat people so badly during layoffs. I think everyone deserves to be treated with dignity, especially when things are hard. That kind of respect really matters. You did great,” wrote a startup CFO.
