Swiggy Layoff: Now layoffs in Swiggy; Sources claim – there will be 6% reduction in workforce, 400 workers will be affected

Food and grocery delivery firm Swiggy, which is in the IPO race, has once again started layoffs. The company wants to reduce its costs through layoffs so that the company’s profits increase. Sources said that Swiggy is ready to cut its employee strength by 6%, making 350 jobs in teams like technology, call center and corporate roles. 400 employees will be affected.

Sources told the media that according to the information given to senior leaders in the company and the current information, this action of layoffs will be done gradually in the coming weeks.

According to people aware of the matter, Swiggy’s food-delivery business is making profits, but its grocery unit Instamart is still in loss. The Bengaluru-based company is trying to adapt itself on all fronts to cut its costs and deliver better financial performance before the IPO.

With the layoffs, Swiggy has joined the list of companies like Paytm and Flipkart that have recently resorted to layoffs to reduce their expenses.