Stung By Coronavirus, Swiggy Lays Off 350 More Employees As 50% Business Lost
Made in India food delivery app Swiggy is right now facing its most difficult phase, as they have announced a fresh layoff of 350 employees.
This recent firing has been announced since their business is down by 50%, even after lockdown rules were eased in most of the country.
What will be the future of Swiggy?
Swiggy Fires 350 More Employees
After firing 1100 employees in May, Swiggy has announced a 2nd round of layoff, wherein 350 employees will be fired.
A Swiggy spokesperson confirmed this, as he said, “we have to, unfortunately, go ahead with this final realignment exercise, which will result in the net loss of 350 jobs,”
Swiggy had, infact, attempted to realign their business and their employees in those areas which promised “optimism of the business”.
But it seems things didn’t work the way it was planned.
Swiggy Loses 50% Of Business
Ever since the lockdown rules eased across the nation, businesses are open and trying to bring back normalcy.
But Swiggy hasn’t been able to.
As per their spokesperson, they have recovered only 50% of the business, and the things are looking gloomy.
This is the main reason why a fresh layoff of 350 employees has been taken.
But Swiggy has assured that this is their last round of layoff, and no further employees will be fired.
All terminated employees will be provided a severance package of three to eight months, and an extra month of ex-gratia for every year served in addition to their notice period pay.
Swiggy Diversifying, Piloting To Survive
Since food delivery orders have reduced due to the scare of coronavirus, Swiggy is now vigorously diversifying and piloting other business models to survive.
For example, they have ramped up their grocery delivery and Swiggy Genie services across several Indian cities, and in talks with local administration to expand their services.
Swiggy Genie is their revamped Swiggy Go service to deliver essential products like medicines across 15 cities.
Besides, they have added 125 more cities to their platform.
We hope Swiggy survives this difficult time, and continue to roar and soar.
We will keep you updated, as more details come in.