After Zomato fires 520 employees, Swiggy Sacks 1,100 Employees as Covid outbreak hits food orders

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After Zomato fires 520 employees, Swiggy Sacks 1,100 Employees as Covid outbreak hits food orders

After Zomato fires 520 employees, Swiggy Sacks 1,100 Employees as Covid outbreak hits food orders

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Swiggy to lay off 1,100 employees as outbreak hits food orders

Food delivery company Swiggy on Monday announced that it will lay off 1,100 employees, or nearly 14% of its total workforce, as the weeks-long nationwide lock-down to contain the corona-virus outbreak severely affected the demand for online food ordering.

  • All impacted employees will receive at least 3 months of salary irrespective of their notice period or tenure.
  • For every year they have spent with us, we will be offering an extra month of ex-gratia in addition to their notice period pay, working out to between 3-8 months of salary depending on the tenure.
  • E.g. If someone’s notice period is 3 months and they’ve spent 5 years with us, they will get 8 months of salary.

Zomato fires 520 employees, offers them 50% salary for up to 6 months

Zomato, one of India’s most prominent startups, is one of many which are laying off workers or reinventing parts of their business as the COVID-19 pandemic hits revenues.

Zomato has announced it’s cutting 13% of its workforce or 520 employees to reduce costs amid the coronavirus crisis. Zomato said it would provide those affected with 50% of their salaries for six months or until they find another job, whichever comes first. They will also be allowed to keep their company-issued laptops and phones if any.

Goyal said Zomato’s food-order volumes had fallen and the company saw “long term potential” in grocery deliveries.

  • The company has reduced its monthly cash burn and has a “very generous amount” of financial runway in the bank, he added.
  • Backed by Ant Financial – an affiliate of Chinese e-commerce giant Alibaba Group Holding – Zomato bought Uber’s Indian food delivery business in January.
  • Zomato’s main rival, Swiggy, has also laid off a number of employees, it said last month.
  • Zomato had about 4,000 employees, excluding contracted delivery workers or “riders”, a spokeswoman told Reuters on Friday.
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