Sudden announcement by Swiggy..!? Employees in fear?

Sowmiya Sriram
Sudden announcement by Swiggy..!? Employees in fear?

It seems that employee layoffs, which had subsided in the united states and Britain, have now started to increase more aggressively in India. Although employee layoffs have been sporadic in the indian startup market since the beginning of 2022, they were mostly in online and education ECOSYSTEM' target='_blank' title='digital education-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital education startups. It has been reported that swiggy, the fastest-growing food and grocery delivery service in india, is planning to lay off around 250 employees by the end of this month.
Most of the wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital service companies in india have added more employees for business expansion during the Corona period and are getting excess business revenue. Currently, they are facing excessive changes in the business market. At the same time, the continuous increase in interest rates is not able to attract enough investment and the IPO release plan has been postponed. It has come down. Due to this, successive companies have issued layoff notices. With these 250-employee layoffs, swiggy is shedding 3-5 percent of its total workforce.
As more layoffs are expected in the coming months, swiggy has also announced layoffs in its supply chain, operations, customer service, and technology divisions. swiggy has not yet issued layoffs to any employees and has not denied that there will be layoffs this month or soon. Also in october, we reviewed the operational capabilities of all employees and departments and issued ratings and promotion notifications for employees.
In this situation, it has been reported that all the dismissals may be based on the october rating. Recently, in a meeting among swiggy employees, the head of the HR department of the company, krish Menon, said that there are chances of dismissals based on the october rating, and the management announced that it is going to embark on a restructuring process. Deepender Goyal-led zomato announced plans to lay off 3 percent of its employees after 3 top executives were sacked in November. zomato currently has 3800 employees, out of which 100-120 employees will be laid off.
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