Swiggy follows Zomato, lays off 1,100 as coronavirus dashes business

Foodtech giant Swiggy will lay off 1,100 employees citing business losses because of the lockdown to contain the coronavirus, two days after rival Zomato revealed plans to cut 13 per cent of its workforce.

The company backed by China’s Tencent and Prosus NV has about 8,000 employees and it is reducing 13.75 per cent of its workforce.

“We, unfortunately, have to part ways with 1100 of our employees spanning across grades and functions in the cities and head office over the next few days. This is easily the hardest and longest deliberated decision the management team and I have been faced with over recent times,” said Swiggy co-founder and CEO Sriharsha Majety in a blog post. “We have been fortunate to have some of the brightest missionary talent in the country join us over the last few years, and I would like to state unequivocally that this is not at all a reflection of anyone’s performance.” Read More