NEW DELHI: Food and grocery delivery firm Swiggy may fire up to 250 employees in December, the Economic Times reported quoting sources.
According to the report, layoffs could be more than 250 as well in the coming months, that is, up to 5% of its workforce.
The upcoming layoffs will also impact Swiggy's quick commerce delivery service Instamart to reduce cash burn.
The ET report suggested that people across supply chain, operations, cutomer service and technology roles may face the heat.
In its response to ET, Swiggy said that the company has made no layoffs yet, but did not rule out any firings in future.
Last month, global brokerage firm Jefferies said that Swiggy was fast losing market share to its rival Zomato despite offering heavy discounts.
Citing Swiggy investor Prosus' financial report, Jefferies had said that the gross value of Swiggy's food delivery business was $1.3 billion in the January-June period this year.
Swiggy narrowed its consolidated loss by 58.7% in FY21. The food aggregator posted a loss of Rs 1,616.9 crore in FY21 compared to Rs 3,920.4 crore loss in FY20.
(With inputs from agencies)
