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Swiggy Layoffs: After Zomato, another online food delivery company Swiggy is going to lay off employees. Swiggy can show the way out of the company to about 250 employees, which is 3 to 5 percent of the total workforce. At the same time, according to the report, the number of layoffs may increase.
According to media reports, people involved in supply chain, operations, customer service and technology roles will be affected in this retrenchment. According to the Economic Times, Swiggy said in an email response that there is no layoff at present but cannot rule out layoffs in the future or this month. Swiggy has said that, we ended our performance cycle in October and have given ratings and promotions at all levels. The company said that on the basis of performance in every cycle, we expect people to exit.
Such tech firms are continuously laying off employees after investors expressed concerns about lack of funding and making profits. According to a company source, Swiggy’s HR head Girish Menon informed the employees about the performance-based exit at the recently concluded town hall. The company is engaged in restructuring its teams. According to brokerage firm Jefferies, Swiggy has lost $315 million between January and June, which is much more than its rival Zomato’s $50 million.
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