Swiggy lays off its 380 employees after town hall meeting, says `extremely difficult decision`

New Delhi: Food delivery app Swiggy has laid off its 380 employees that accounted for 6% staff amid tough times and stark compeitition among food delivery market in India. Swiggy joined the league of the companies that laid off its employees in the first 20 days of January, mostly tech companies amid fear of recession and slow growth in 2023.

“We’re implementing a very difficult decision to reduce the size of our team as a part of a restructuring exercise. In this process, we will be bidding goodbye to 380 talented Swiggsters. This has been an extremely difficult decision taken after exploring all available options, and I’m extremely sorry to all of you for having to go through with this,” the company announced in an email this morning.

“Effective very soon, we will be shutting down our Meat marketplace. While the team has done exceptionally well with solid inputs, we haven’t hit product-market fit here despite our iterations. From a customer perspective, we will still continue to offer meat delivery through Instamart. We will continue to stay invested in all other new verticals,” the mail said.

Swiggy CEO said the company is committed to exploring new business opportunities but has also taken harder look at some of its existing new verticals.

According to the layoffs.fyi, the site that keeps track on all lay offs around the world, a total of 38815 employees have been laid off in the first 20 days of January with 151 companies were part of it. It is to be noted that the site has been tracking all lay offs since the inception of Covid-19.