Policybazaar CEO Sarbvir Singh says the company will not carry out mass layoffs after the company’s stock falls by about 34% following an IRDAI-related development. He adds that the firm is reassessing its cost structure.
According to Singh, management is reviewing marketing spending and other expenses, with the goal of recalibrating outlays in response to the new regulatory environment. The reporting frames this as an effort to respond to uncertainty created by the IRDAI move, while maintaining employment levels.
Across the outlets, the central points are consistent: there is a sharp stock decline, and the CEO’s message is that there will be no mass layoffs. The emphasis differs slightly in wording—some coverage highlights a review of marketing spend—while the substance remains the same: expense moderation rather than large-scale staff reductions.
