Bengaluru: Food delivery company Swiggy on Monday said that it will lay off 1,100 employees over the next few days, nearly 13 per cent of its workforce, to cut costs, as the coronavirus pandemic hit its core and cloud kitchen businesses.
“Today is one of the saddest days for Swiggy as we have to go through an unfortunate downsizing exercise,” Swiggy co-founder and CEO Sriharsha Majety wrote in an email to the company’s employees on May 18, according to the company’s blog.
Earlier on Friday, Zomato had announced that it was laying off more than 500 employees, or 13 per cent of its total workforce.
Swiggy, one of India’s best known startups, however, will give three months of salary to all the affected employees. In addition to this, it will also give one month of salary for each year of employment with the company. This will be over and above the notice-period pay.