Zomato Cuts Workforce Up To 3% In Performance-Based Churn
According to a corporate representative who talked to NDTV, Zomato, a food ordering service, has reduced its personnel by up to 3% as part of ongoing performance-based layoffs. The representative stated, “There has been a routine performance-based churn of under 3% of our personnel; there is nothing more to it.
According to a person with firsthand knowledge of the situation, at least 100 employees from a variety of tasks are affected, and the process has been ongoing for the previous two weeks.
The co-founder of Zomato, Mohit Gupta, announced his resignation yesterday. The firm included a parting letter from Mr. Gupta in a note to the markets, stating that he will continue to be a “long only investment in Zomato.”
Due to a consistent increase in online ordering, Zomato on Thursday last reported a reduced second-quarter deficit. According to the company’s regulatory filing, the combined net loss for the three months ending September 30 was 2.51 billion rupees, down from 4.30 billion rupees a year earlier. Operating income increased from 10.24 billion to 16.61 billion.
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