Swiggy Layoffs: Retrenchment sword on Swiggy employees, company took decision for this reason

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Swiggy Lay Off 380 Employees: There is bad news for people working for online food delivery startup Swiggy. The sword of Swiggy Layoffs is hanging over the employees of the company. Swiggy confirmed on Friday (Swiggy Confirms Layoffs) that it is going to lay off 380 of its employees.

Online food delivery startup Swiggy Company told the reason for this layoff (Swiggy LayOffs Reason) is the slow pace of growth. The company’s co-founder and CEO Sriharsha Majeti said in an e-mail sent to its employees that the growth rate for food delivery has slowed down compared to our estimates. This means that we need to re-think our indirect costs to meet our profit target. Along with this, he has also apologized to the employees for this.

Swiggy CEO said, we had already started taking action on other indirect costs like infrastructure, office/facilities etc. We also needed to right size our total employee cost to future projections. He said that we have already started action on other costs like infrastructure, office facility etc. We also need to right size our total personnel cost as per the projections for the future. We recruited more employees, which was a wrong decision.

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