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Food and grocery delivery major Swiggy has kicked off another round of layoffs in an effort to cut costs and increase profitability, reported Moneycontrol, citing sources.
Swiggy plans to reduce its employment by 7 per cent, affecting 400 employees across teams like technology, call centres, and corporate roles. The report said the company has around 6,000 employees on its payroll.
Swiggy joins a slew of large internet firms, including digital payments firm Paytm and e-commerce major Flipkart, that have restructured teams to cut costs amid a prolonged downturn in the technology sector.
Earlier in January last year, Swiggy "bid goodbye to 380 talented Swiggsters" as part of its restructuring exercise. The company said that it was an "extremely difficult decision.".
"We're implementing a very difficult decision to reduce the size of our team as a part of a restructuring exercise. In this process, we will be saying goodbye to 380 talented Swiggsters. This has been an extremely difficult decision taken after exploring all available options, and I'm extremely sorry to all of you for having to go through with this," CEO Sriharsha Majety said in an email to employees.
Besides layoffs, Swiggy also saw top-level exits, including Sidharth Satpathy, Dale Vaz, Karthik Gurumurthy, Ashish Lingamneni, Nishad Kenkre, and Anuj Rathi in the current fiscal year (FY24
