IT IS Swiggy Now after Zomato's Lay Off Shock

After the food giant company Zomato announcing its plan to lay off 13% of its workforce, its competitors Swiggy also has released its plan of removing 1100 employees from the company in coming days. Swiggy co-founder Sriharsha Majety told “Today is one of the saddest days for Swiggy as we have to go through an unfortunate downsizing exercise.” This was sent to the employees through an email on 18^th of May 2020. The company will also gradually shutting down its kitchen facilities on a temporary basis due to COVID -19 outbreak.

In days to come, the HR team will be contacting the 1100 employees across different grades. The Co-founder also added that the company is “fully committed to provide the best possible support to those impacted staffs financially, emotionally and even carrer-related.”

Swiggy will be giving away three months salary to those 1100 employees. It will also give one month of salary for each year of employment with the company. This amount is excluding the notice period payment.

Furthermore, Swiggy has also extended the existing medical insurance policy for the families of the layed off employees till December 2020. This would help them in medical emergency. The company also extended the employee stock ownership policy, which will be for a month notice period.

It is also to the notice that, the company might shut down other business that will not be relevant for the next one and half year. The big decision was taken in this 4^th phase of lock-down bringing in more problem to the economy of the company. To stop taking more risk for the business, the only result being a lay off.

This is against the Prime Ministers statement of “no layoff’s during the lock-down period”. More than 10 lakh people have lost their jobs during this COVID phase, as still no steps have been taken by the government to stop this harsh decisions against the employees.