Swiggy Fires Employees

Swiggy is planning to axe 1,100 jobs across grades and functions, as per sources. The company intends to build a leaner organisation and reduce costs, adding that the core food delivery business has been “severely impacted”. Those affected will get at least three months of salary and an additional month’s pay for every year spent with the company. Swiggy will also scale down or shut businesses that are likely to become volatile or not very relevant over the next 18 months, with its cloud kitchens bearing the brunt. Last week, rival Zomato announced job cuts for about 13% employees.