Swiggy layoffs coming soon, expected to fire nearly 600 employees

The Indian startup industry is going through a tough time. Several Indian startups like Unacademy, Dunzo, Byju's have laid off hundreds and thousands of employees in the last few months. Joining these startups is the food delivery app Swiggy. According to a report coming from Financial Express, Swiggy plans to fire hundreds of employees in the time to come.

As per the report, Swiggy is planning to slash around 8 to 10 per cent of staff of the 6000 workforce as an initiative to cut costs. Considering the numbers, it is safe to assume that around 600 employees at Swiggy could lose jobs in the upcoming weeks. Swiggy layoffs are expected to majorly hit the product, engineering, and operations teams.

The report further reveals that the online food delivery platform recently conducted performance review wherein several employees were put under the performance improvement plan (PIP). Sources close to the development have informed that Swiggy has a number rating system for all employees on a scale of 0-5 and people who score 2 or less are expected to be the most impacted by layoffs. "Employees with a rating of 2 and below have received intimation about PIP and they will be the most impacted," one of the sources close to the development revealed. Notably, Swiggy hasn't revealed any official details about the layoffs yet.

Swiggy layoffs are coming after its rival Zomato fired 3 per cent of its workforce, which is around 3800 employees, in November last year. Right before the mass layoffs, some top Zomato executives, including co-founder Mohit Gupta, initiative head Rahul Ganjoo and former head of Intercity Legends service Siddharth Jhawar also quit.

Delivery service Dunzo also announced layoffs recently. The company announced its decision to fire around 3 per cent of its workforce. The Bengaluru-based startup said that the decision to lay off employees is a part of their cost-cutting measures. Commenting on the layoffs, the company's CEO and Co-founder Kabeer Biswas said that Dunzo is extending "the best support possible" to help employees during this tough time. "Any decision that impacts people is tough and always our last option," Biswas added. Additionally, the CEO also said, "whatever the numbers, these are people who chose to build their careers with Dunzo, and it is sad to have talented colleagues leave us."

Other than Swiggy, Zomato, and Dunzo, many other startups, including Byju's, Unacademy, GoMechanic and many others have laid off hundreds of employees together. Additionally, the tech industry is also witnessing a tough time and conducting layoffs globally. The recent one being Microsoft that laid off 10000 employees globally across various departments.