Swiggy’s Restructuring | Swiggy Layoffs (2024) | Swiggy IPO |
The first layoffs of Swiggy in January 2023 of 380 employees. The company shutdown its meat marketplace as part of cost-cutting measures. The first Swiggy layoffs aims to lower operational costs.
Now Swiggy is preparing for second round of layoffs in 2024. This second round also aims to reduce costs as the company is getting ready for its IPO. The second round of layoff will cut 400 employees in a reconstructing move.
This layoffs would have a great impact on the workforce. Swiggy is currently employing 6000 individuals. The layoff will affect approximately 7 % of Swiggy’s workforce.
This will majorly affect some teams of swiggy which includes tech, call center, and corporate teams.
Swiggy has plan to include the company on stock exchange latein 2024.
CEO Sriharsha Mejety has confirmed ongoing IPO operations. The company hasn’t provide the date of releasing the Swiggy IPO.
Mejety states that due to high competition, food delivery business has slowed down more quickly than expected.
Instamart, Swiggy’s quick-commerce business, is anticipated to be the growth driver in the coming years.