Indian food delivery giant Swiggy to cut 380 jobs • TechCrunch
Swiggy plans to lay off 380 jobs as the Prosus Venture and SoftBank-backed Indian food delivery giant seeks to navigate the market downturn that has forced companies to become leaner and more disciplined.
In an email to employees on Friday, Swiggy co-founder and chief executive Sriharsha Majety said the startup had advanced its profitability plans and had to make tough decisions to reserve cash.
“Over the past year, we have also identified many areas for improvement in our pace of execution. Due to the iterative building of the different organizations, additional layers were created in the pockets. It certainly increased our communication overhead and compromised our agility. It meant that instead of doing more with less, we were doing less with more in these cases,” he wrote in an email, seen by TechCrunch.