Food delivery startup Swiggy is reportedly laying off over 250 employees this month across operations, technology, customer service, and supply chain. This decision can affect about three to five percent of its workforce. Swiggy's layoffs come just months after its main rival Zomato laid off three percent of its workforce due to poor performance.
According to media reports, the layoff decision is expected to affect personnel deployed in the supply chain, operations, customer service, and technical roles. Sources have been quoted in media reports as saying that the company wants a very small team structure in its operations. Sensitization workshops have been planned for the employees for later this month. They have appointed a consulting firm to advise on restructuring. Most of the layoffs are reported to be across departments from tech, engineering, product roles, and operations
During a recent town hall, Swiggy's HR chief Girish Menon informed the employees about the performance-based layoffs. With the help of a consulting firm, the company has started restructuring its teams. Swiggy has also announced the promotion of several executives to the rank of Vice President.
According to the report, Operations Head Mihir Shah has been promoted to Senior Vice President of Operations. Swiggy told the media, "We ended our performance cycle in October and announced ratings and promotions across all levels."
Apart from this, to reduce cash burn on Swiggy's instant grocery delivery platform and Instamart employees are being transferred to other parts of the company. The company remains neutral on Instamart's expansion plans. The company is reportedly cautious about Instamart's expansion plans.
Let us tell you that despite offering significant discounts, global brokerage firm Jefferies reported last month that Swiggy is rapidly losing market share to its rival Zomato. Earlier, Swiggy had decided to shut down its cloud kitchen brand The Bowl Company in November due to high losses in Delhi and National Capital Region (NCR).
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