Mumbai based food delivery startup TinyOwl co-founders were reportedly held hostage by its irate laid-off employees for about 24-36 hours in their Pune, Delhi, Hyderabad and Chennai offices – in all 4 co-founders found themselves held against their will in their offices. Check out top 5 points about how the shocking events unfolded:
1. TinyOwl employees were enraged after the company announced on Wednesday that it would be scaling back operations nationally and continue to operate in six cities. Employees resorted to this extreme measure after the company allegedly refused to pay salaries after sacking them in September.
2. The layoffs at TinyOwl, came five days after it managed to raise Rs 50 crore from existing investors Matrix Partners and Sequoia capital. In an official statement, the company cited increasing efficiency and productivity as a reason for scaling back operations.
3. TinyOwl co-founder Gaurav Choudhary was taken hostage for more than 36 hours in Pune while another co-founder Saurabh Goyal was taken hostage in Delhi for a day. Tanuj Khandelwal was taken hostage in Hyderabad and Shikhar Paliwal in Chennai. The co-founders are understood to have been allowed to go following negotiations. Gaurav and Saurabh were released on Wednesday evening and were immediately taken for counselling.
4. TinyOwl employees say the company shut shop in Pune and fired all 30 staff. Operations in Bengaluru and Mumbai have been restricted as well, but will continue.
5. However, a TinyOwl source denied that the company was firing people. According to the company its accounts to prove that all the salaries have been paid. It added, “Until we get a written confirmation from them that no physical harm will be caused to anyone, we are not going to clear the dues”. A company source said, “We are not firing people. We are initiating a separation and scaling back of resources. Since we are automating the process and it does not require human intervention, we do not have roles for these skill-sets to replace them elsewhere. People have the option to resign and get paid for entire two months/one month”.