26 July 2024
Swiggy might let go of 250 staff in December, with additional layoffs coming soon.
Around 250 staff in the supply chain, operations, customer support, and IT jobs are reportedly being let go by the largest food delivery company in the world, Swiggy. The figure corresponds to 3-5% of the overall workforce for the major in food delivery. A few weeks ago, Zomato, Swiggy's main competition, let go of 3% of its workers due to poor performance.
"In October, we came to the end of our performance cycle, and since then, we've revealed ratings and promotions for all levels. We anticipate exits depending on performance, as with every cycle," Swiggy added.
Swiggy's losses from January to June were "far larger at over $315 million," according to a brokerage firm when compared to a single $50 million loss for its competitor Zomato.
