SWIGGY LAYOFFS

Layoffs at big internet firms keep staffers at startups on the edge

The new year has begun on a sombre note for people working in large and well-capitalised startups as companies like Swiggy, Flipkart, and Paytm are laying off a sizable chunk of their teams.

Swiggy to lay off 6% of workforce impacting 400 jobs ahead of IPO

Swiggy is set to cut its workforce by 6% affecting 350-400 roles across teams like technology, call centre, and corporate roles, with senior leaders having been briefed to conduct these layoffs gradually over the coming weeks, the sources added.

Swiggy to axe 400 jobs; Groww vs Zerodha race heats up

The cuts, which will impact about 6% of its 5,500 to 6,000 staff, will most likely happen across teams like technology, call centre, and corporate roles. As per briefs given to senior leaders in the firm, the layoffs are expected to kick in over the next few weeks.

Online math learning platform Cuemath lays off 100 more staff: Report

In May, the company had laid off about 100 employees to improve efficiencies amid a worsening global landscape for K-12 edtech.

Major layoffs announced by Indian startups recently

Invesco cuts Swiggy’s valuation by 33% to $5.5 billion; global tech M&A deals sputter in March quarter

US asset manager Invesco has once again slashed its portfolio firm Swiggy’s valuation. This time it’s a 33% cut to $5.5 billion from $8.2 billion.

Dunzo lays off 300 employees amounting to 30% of its workforce

Besides layoffs, Dunzo is also likely to cut about 50% of its dark stores and run only those that can be profitable or are nearing that threshold.

Is Swiggy getting ready for an IPO? Key details you need to know

MeitY ban on loan apps includes non-Chinese players too; Dell to lay off 6,650 employees

On Sunday, the Indian government issued orders to block 138 betting and gambling apps and 94 loan providing apps due to foreign links on an urgent and emergency basis. Today, we have found out that the ban has affected players like PayU's Lazypay, Kissht, among many other fintech loan apps.

Microsoft, Google and other major companies that announced layoffs this year

'Devastated, shocked': sacked Google employees left distraught as layoffs impact 12,000

Google parent Alphabet on January 20 announced that it plans to layoff about 12,000 employees or 6% of its global workforce.

Layoffs in 2023: the most important stories this week

Google is the latest tech firm to trim staff as the economic boom that the industry rode during the Covid-19 pandemic ebbs. The tech giant said on January 20 that it is laying off 12,000 workers, or about 6% of its workforce.

Swiggy to lay off 380 Employees, says CEO

The food and grocery delivery company is the latest to join the swelling ranks of startups such as ShareChat, Dunzo, Rebel Foods, Hubilo, Ola and Cashfree to announce layoffs in recent weeks, as the sector weathers a late –stage funding crunch amid global macro-economic and geopolitical turmoil.

Swiggy sacks 380 employees: read CEO Sriharsha Majety’s email on job cuts

Online food delivery platform Swiggy is laying off 380 employees. The decision was communicated to staff at a town hall on Friday.

Amazon to cut over 18,000 jobs; consumers in no hurry for quicker grocery deliveries

Ecommerce giant Amazon has resorted to another round of mass layoffs in a bid to cut costs. CEO Andy Jassy, in a statement to staff, said that the latest layoffs would affect over 18,000 employees across departments. Big tech companies have been firing workers in droves in recent months to slash their expenses in the face of inflation and rising interest rates.

Swiggy pilots premium grocery business with Handpicked

Unlike its quick commerce business Instamart, the products listed on Handpicked will only be delivered the next day, and consumers can only access the service through invites.

Exclusive: Swiggy may fire 250 employees in December, more layoffs in store

Jobs in areas like supply chain, operations, customer service and tech are at risk. Swiggy has joined a growing list of tech companies resorting to layoffs amid a tough funding environment.

Swiggy, PayU seeing strong growth, says Prosus; Sebi move jolts fund industry

Prosus, the Dutch-listed arm of South African technology investor Naspers, said on Wednesday that Swiggy and PayU, its food-delivery and payments companies in India, have recorded strong growth this year. It also said it stopped equity accounting for Byju’s in September as it lost its “significant influence” over the company after its stake fell below 10%.

Swiggy shutters Supr Daily operations across five cities

Swiggy acquired Supr Daily, a delivery app for milk, bread, and other grocery items, in 2018. Kishan, who was given the cofounder title last year, has been overseeing Supr Daily as its chief executive officer.

Swiggy lays off another 350 employees

"With the industry still only having recovered to about 50% of its peak, we have to, unfortunately, go ahead with this final realignment exercise, which will result in the net loss of 350 jobs," Swiggy said in a statement.

Swiggy lays off 1,100 employees as Covid-19 derails Cloud kitchens

Swiggy said if someone's notice period is three months and they've spent five years with the company, they will get eight months of salary.

Zomato to lay off 13% of its staff as Covid-19 severely impacts food ordering business

Zomato has said it will let go of 520 people and undertake up to a 50% pay cut for remainder of the organisation.

Swiggy to trim cloud kitchen team, up to 1,000 jobs at risk

The company plans to reduce its monthly cash burn to less than $5 million in the next few quarters from $40 million in May last year to conserve cash for the next 20-24 months, a person aware of the development said. Swiggy’s cash burn stands at about $20 million.