India’s foodtech giant Swiggy that had laid off 1100 employees across various functions in its operational cities and headquarter back in May, is now set to again downsize the team as a part of its COVID-19 revival plans. The company has revealed that another 350 employees will be laid off as a part of the realignment exercise that was started in May.
Swiggy in May had laid off 1,100 employees across grades and functions in cities and head office as part of its exercise to realign resources to create capacity in higher potential areas with the optimism of the business attaining pre-Covid levels in the near-term.
The company in a statement said,
“However, with the industry still only having recovered to about 50 per cent of its peak, we have to, unfortunately, go ahead with this final realignment exercise, which will result in the net loss of 350 jobs,”
“We are fully committed to showing respect and compassion for our transitioning employees and will retain the thoughtful and robust care package that we had put together to ease their burden. This includes a minimum of three months to eight months of salary based on tenure (includes an extra month of ex-gratia for every year served in addition to their notice period pay), accelerated vesting of ESOPs, extension of accident and term insurance for impacted employees and health insurance for them and their families till Dec’20,”
“The package also includes learning support for both technical and professional skill development, job placement and counselling services and ownership of their laptop among others,”