Swiggy to Lay off 1,100 employees, will give 3 months salary
Food ordering and delivery platform Swiggy said it is laying off 1,100 employees across grades and functions in cities and the head office over the next few days due to the impact of coronavirus pandemic on its business, including cloud kitchens.
In an email to all employees, SwiggyCo-founder & CEO Sriharsha Majety said, "Today is one of the saddest days for Swiggy as we have to go through an unfortunate downsizing exercise."COVID-19 has hit the company with a huge blow of uncertainty, forcing it to look even harder at its cost base and preparedness for the road ahead, he added.
Giving the reasons for the laying off of 1,100 employees, Majety shared the management outlook and key business decisions that were reasons for this decision.
The core food delivery business has been ...