Swiggy Fired 380 Employees...

The CEO Says it was an extremely difficult decision…

On Friday, 20 January 2023, Food delivery platform Swiggy said it is "bidding goodbye to 380 talented Swiggsters" as part of a restructuring exercise, adding it was an "extremely difficult decision" for us.

The company said that it has put together a new comprehensive Employee Assistance Plan which will help employees impacted with their financial, physical well-being during the transition.

"We're implementing a very difficult decision to reduce the size of our family as a part of a restructuring exercise. In this process, we are bidding goodbye to our 380 talented Swiggsters.

This has been an extremely difficult decision taken after exploring all available options, and I am extremely sorry to all of you for having to go through with this crucial time," CEO Sriharsha Majety said in an email to employees on Friday morning.

The decision follows layoffs in Twitter, Amazon, Goldman Sachs, Microsoft, among others.

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

"Effective very soon, we will be shutting down our Meat marketplace. From a customer perspective, we will still continue to offer meat delivery through Insta mart. We will continue to stay invested in all other new verticals," the mail said.

Mr. Majety said over the last year, under challenging macroeconomic conditions, companies around the world are adjusting to the changes.

"We are no exception here, and have already advanced our own timelines for profitability on food delivery and Instamart.