Swiggy: Cutting 14% of workforce
3 months salary in advance for the affected ones
Tuesday, 19th May 2020
Swiggy is cutting off 14% of workforce (1,100 employees) as a result of Covid-19 lockdown crisis. Sriharsha Majety, CEO of the company, announced the same in an email on May 18th and added that its kitchens will be temporarily or permanently closed due to the crisis.
He wrote in his email, “Today is one of the saddest days for Swiggy as we have to go through an unfortunate downsizing exercise. We, unfortunately, have to part ways with 1,100 of our employees spanning across grades and functions in the cities and head office over the next few days. This is easily the hardest and longest deliberated decision the management team and I have been faced with over recent time”.
The affected employees will be given 3 months’ salary in advance and additional month of salary in every year of company’s employment. Employee Stock Ownership Policy has also been extended to the nearest quarter which is inclusive of the months notice period. Medical insurance has been extended for the affected families of employees until 31st December, 2020.
Swiggy has started delivering essentials such as groceries to keep the sales alive.
Source: Republic World
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