Highlights

  • Swiggy CEO said that the growth rate for food delivery has slowed down
  • The company had to revisit overall indirect costs to hit profitability goals: Swiggy CEO

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Layoffs wave continues: Swiggy to cut jobs

Swiggy's move to cut jobs comes as the company faces challenging macroeconomic conditions and a slowdown in growth of its food delivery business

Days after ShareChat and Dunzo, laid off employees, Swiggy has also announced that it will lay off 380 employees out of its 6,000 strong work force.

The move comes amid the the company facing challenging macroeconomic conditions and a slowdown in growth of its food delivery business.

“We’re implementing a very difficult decision to reduce the size of our team as a part of a restructuring exercise. In this process, we will be bidding goodbye to 380 talented Swiggsters. This has been an extremely difficult decision taken after exploring all available options," according to an internal e-mail shared by Sriharsha Majety, Swiggy’s chief executive and co-founder.

Apologising for the move, Swiggy founder and CEO Sriharsha Majety has said the company will shut down its meat marketplace as it takes a harder look at some of its verticals.

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