Swiggy planning fresh layoffs; may cut 8-10% from 6000-strong workforce

The plan for layoffs comes at a time when Swiggy is aspiring to turn operationally profitable before its IPO

Premium

BS Web Team New Delhi
Swiggy is considering another round of layoffs amid a funding slowdown. In order to rationalise costs the food and grocery delivery platform is planning to slash 8-10 per cent of its 6,000-strong workforce, The Financial Express reported on Thursday.

The report said the planned layoffs are likely to have the most impact on employees in product, engineering and operation departments.

Swiggy has said previously that it is aiming to be operationally profitable before its IPO, which has been delayed to the later half of this year due to poor performance of tech stocks in recent months.

The

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 19 2023 | 12:38 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com