- Ashneer Grover, an investor on “Shark Tank India,” cautioned company entrepreneurs not to be “swayed by what Elon Musk is peddling as couture” since “it does not match your body type” in response to the widespread layoffs that are currently occurring.
- He recommended that instead of huge layoffs, founders should slash wages by 25%.
- It’s a better option because rehiring would be expensive, Grover continued.
Ashneer to founders: Instead of major layoffs, reduce employee compensation by 25%
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