Swiggy joins layoff wave, to let go 380 employees

Indian food delivery firm Swiggy on Friday said it will lay off 380 employees, citing challenging macroeconomic conditions and slowdown in growth of its food delivery business, according to an internal document seen by Reuters.

The food delivery startup, which has an employee strength of 6,000, operates in more than 500 cities

As the fear of global recession grows, not long ago Amazon also announced the news of layoffs and that they will stretch to more than 18,000 roles as part of a workforce reduction it previously disclosed as 11,000. The cuts amount to 6% of Amazon’s roughly 3,00,000-person corporate workforce and represent a swift turn for a retailer that recently doubled its base pay ceiling to compete more aggressively for talent.

According to reports, layoffs have impacted several departments across the country. Amazon, which has 1 lakh employees in India, is set to sack 1,000 employees — 1% of its workforce, The Times of India had reported, However, the U.S.-based firm is reportedly offering five months’ severance pay to laid-off employees as well as “exceptional payments” based on the employees’ tenure. Read More on..