In the last two months, the novel virus has severely impacted the food distribution business. Hotels and restaurants across the country were forced to close the door to ease the spread.
In a blog, Somato founder and CEO, Deepinder Goel wrote, “As we continue to build a more focused Somato, we don’t anticipate that all of our employees will have enough work.”
Over the next two days, the company will help Zoom video calls with affected employees to take the next steps and help them find work as quickly as possible.
SOMATO will cut salaries of up to 50% of its workers. “Low cuts are proposed for those with low pay, high cuts for high pay (up to 50%),” wrote the founder of SOMATO.
All Somato employees who are no longer employed at the company will receive a 50% salary for the next six months. Those employees are encouraged to find new jobs outside the company during this period, Goel said.
Employees who do not have direct pay are entitled to two months of tension (vs. 15 days contract liability). SOMATO allows employees to keep laptops and phones provided by the company.
The popular food delivery network has formed a placement team to support employees who need to leave the company during the global pandemic, Goel said.
For the next six months, employees will receive the benefits of all employee stock ownership plans (AOSOP) and health insurance, he said.
Those who have already made voluntary reductions of less than or equal to the specified temporary salary will not already be subject to this “additional reduction” by the company.
2x Aesop grants, like early voluntary cuts, are eligible for this temporary pay cut. “I anticipate that it will be 6 months from now,” Somoto CEO said.
“Kovid-19 is a black swan event for the world economy; we don’t know if the global minimum is affected by the virus.”
Moreover, the company also plans to make “partial or full-time work from home a permanent feature” for employees. The company said it will work full-time from home for sales teams, as it only requires office presence for large team meetings, meetings and performance reviews.
