Swiggy Plans To Cut 8-10% From Its Workforce
An online food ordering platform, Swiggy is planning to `cut off 8 to 10 per cent jobs of its 6000 strong workforces. This will be another round of layoffs amidst a slowdown of funding.
As per the reports, these layoffs are going to mainly impact the employees in the product, engineering and operation departments.
Earlier, Swiggy said that it is aiming to be operationally profitable before its IPO, which has been delayed to the latter half of this year due to the poor performance of tech stocks in recent months.
Reportedly, swiggy came out of its performance review in October 2022 after which many employees were put under a performance improvement plan (PIP).
According to the media reports, several swiggy employees are working under immense pressure as the company has been shuffling the teams to achieve the desirable numbers before launching an IPO.
