Swiggy to lay off 6% of workforce to trim costs: Report

Swiggy has launched a new round of layoffs in an effort to trim expenses and achieve profitability ahead of an upcoming initial public offering, according to media reports.

The company is set to cut its workforce by 6% affecting 350-400 roles across teams like technology, call centre, and corporate roles, the report said, citing sources.

Swiggy will lay off employees gradually over the coming weeks, it added.

Swiggy also runs the quick commerce firm Instamart, which had earlier let go of 380 employees in a company-wide restructuring in January 2023, pushed by slowing growth in its food delivery business.

Swiggy is aiming for an IPO between July-September after halting the process last year due to weak markets.

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