Swiggy Lays Off 380 Employees, CEO Says “Extremely Difficult Decision”
In a reorganisation exercise, food delivery service Swiggy said on Friday that it is “biding farewell to 380 talented Swiggsters,” adding that it was a “very tough decision.”
According to the corporation, it has developed a thorough Employee Assistance Plan that will assist affected employees with maintaining their financial and physical well-being during the transition.
“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, and I’m extremely sorry to all of you for having to go through with this,” CEO Sriharsha Majety said in an email to employees this morning.
The choice comes after layoffs at companies like Twitter, Amazon, Goldman Sachs, and Microsoft, among others. The CEO stated that while the company is devoted to investigating new business opportunities, it has also given some of its current new verticals a “harder look.”
“Effective very soon, we will be shutting down our Meat marketplace. While the team has done exceptionally well with solid inputs, we haven’t hit product market fit here despite our iterations. From a customer perspective, we will still continue to offer meat delivery through Instamart. We will continue to stay invested in all other new verticals,” the mail said.
According to Mr. Majety, businesses all around the world have been adjusting to the new normal over the past year despite difficult macroeconomic conditions.
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