Swiggy would lay off 350 workers due to the impact of COVID-19. COVID-19 pandemic has caused the world to experience this sudden paradigm change. It pushed us into strategizing and brought about institutional creativity and forced to do organizational reforms.
Swiggy has made the decision to really let go of yet another 350 employees
Therefore, what is called the second phase of company cutbacks. Previously 1100 workers were laid off in May throughout cities.
“In May, we began the exercise of realigning resources to create capacity. But in higher potential areas with the optimism of the business. Attaining pre-COVID-19 levels in the near-term. 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,” Swiggy concluded in a statement.
Swiggy, the food technology industry has recovered just around 50 per cent. From the Coronavirus crisis, as predicted through a sharper turnaround.
The company announced that it will offer a living salary of three to eight months. With an additional month of former-gratia for each year completed. In addition to their time of notice, to the work force laid off.
Swiggy had agreed to extend the ESOP vesting cycle to the nearest quarter. At the time of the layoffs in May and had planned to include incident. And health compensation for affected workers, which would also refer to the new laid-off personnel base.
The food delivery tech, Swiggy also took the practice in May to close down. And move all of its not-for-profit cloud kitchens. Along with this, 500 of the cloud kitchen staff, which mostly comprised contract workers, have been laid off.
The COVID-19 recession has pushed companies to restructure their company while a second round of unemployment is pursued. Curefit recently also laid off and furloughed nearly 600 employees, earlier this month, health and fitness platform.
Many barriers are to be solved. The technology has certainly reduced the number of people on firms,. But it seems impossible to paint a picture of the firm without a person.
