Swiggy Layoffs 2023: The phase of retrenchment of employees from companies is going on. On the previous day itself, the tech company Microsoft had announced the removal of 10000 workers. Now food delivery platform Swiggy has said that it is going to lay off 380 of its employees. Swiggy has taken this step with the aim of reducing its workforce and cutting costs. At the same time, the company is preparing itself to face the current economic crisis.
In an email sent to employees, Swiggy’s co-founder and CEO Sriharsha Majety said that we will be saying goodbye to 380 talented Swigsters. This decision has been taken after exploring all available options and is regretted. The email states that Swiggy is looking to shut down some verticals as a cost-cutting measure and will soon shut down the meat marketplace. If reports are to be believed then the number of employees to be fired may increase. About 6000 employees are employed in Swiggy.
It was further informed that the employees who will be affected by the retrenchment will receive a cash payment of three to six months’ salary depending on their tenure and grade. Reports say that this includes 100 per cent payment of variable pay/incentives. In addition, Swiggy will offer a notice period, which can be extended up to 15 days or more. Joining Bonus and Retention Bonus paid will be waived off. Also, medical insurance coverage will be available for the affected employee and designated family members till May 31, 2023.