As per a Money Control exclusive, food delivery platform Swiggy plans to trim its workforce by around 400 positions constituting nearly 6% of the total employee base. This would mark the second round of job cuts for Swiggy within a year as it sharpens focus on profitability.
The impending layoffs, slated to be rolled out over coming weeks, are likely to span multiple teams like technology, call centers and corporate functions. Swiggy aims to realign talent with evolving strategic priorities while boosting operational efficiency.
Optimizing Cost Structure Before IPO
Back in January 2022 as well, Swiggy had downsized by letting go of 380 employees when growth began decelerating. The current restructuring also comes even as Swiggy aggressively expands its fast-growing grocery delivery vertical Instamart to tap changing consumer habits.
While no official confirmation has come through yet, the move seems aligned to Swiggy’s intensified focus on profitability as it gears up to go public in the near future. Trimming workforce is possibly one among several optimization levers being deployed to improve finances before listing.
Part of Broader Tech Layoff Season
Swiggy’s impetus to trim employee overhead for demonstrating operating leverage mirrors similar priorities for global tech majors in the current environment. Firms like Microsoft, Amazon and others have also been laying off thousands as uncertainty looms over funding availability.
For Swiggy as well, the realignment is likely driven by efforts to adapt to fluid industry dynamics, emerge leaner and meaner to take on rivals while projecting financial discipline to public investors down the line.
