The food delivery platform, Swiggy laid off 350 more employees recently. This is not for the first time, back in May it did the same for over 1000 employees. As per the company, this step is the part of its ‘final realignment exercise’ and the authority is forced to do that because their business “has only recovered 50 percent of its peak” since the nationwide unlocking process started.
Swiggy said, “In May, we began the exercise of realigning resources to create capacity in higher potential areas with the optimism of the business attaining pre-covid-19 levels in the near-term. However, with the industry still only having recovered to about 50 percent of its peak, we have to, unfortunately, go ahead with this final realignment exercise, which will result in the net loss of 350 jobs”.
Swiggy is offering severance packages for the 350 employees. The package includes three to eight months of salary, accelerate ESOP vesting, accident, and term & health insurance benefits till December, an extra month of ex-gratia, and lastly, support for skill development, job placement, and counseling service.
Swiggy is not the only one, multiple companies are following the same path. Some of them are Ola to reduced 1400 of its employees in May, BookMyShow 270 employees, and MakeMyTrip 350 employees. Uber, Curefit, Indigo, and more others are there too.
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