Zomato, which is a food ordering app, confirmed in a report that a layoff of 3% of its employees will take place.
These layoffs will be based on the regular performance of the employees.
Zomato, which is a food ordering app, confirmed in a report that a layoff of 3% of its employees will take place. These layoffs will be based on the regular performance of the employees.
The layoffs will be made across all the company’s departments, including technology, product, and marketing.
In May 2020, Zomato laid off 520 employees, which made up 13% of its employees. This action was taken in response to the downturn in business that happened due to the outbreak of the pandemic.
About the company
Zomato is an Indian multinational restaurant aggregator and food delivery company. It was founded by Deepinder Goyal and Pankaj Chaddah in 2008 and its headquarter is based in Gurgaon, Haryana.
Information, menus, and user reviews of restaurants are also a part of the services provided by Zomato apart from food delivery options from partner restaurants in selected cities.
Read More: Zomato shares soar following June quarter earnings
Resignation of executives of the company
– It has to be noted that the co-founder of the Company, Mr. Mohit Gupta, put down his papers last Friday, after serving the company for nearly four and a half years.
Zomato founder and chief executive Mr. Deepinder Goyal said in an interview about Mr. Mohit Gupta “You have been a brother and a friend to me over the last few years. You have done a tremendous job here, brought us back from the brink of extinction, scaled the business to new heights, got us to profitability, and above all, coached me over the years to become capable of running such a large and complex business”.
– Mr. Rahul Ganjoo, the head of new initiatives, also put an end to his tenure, earlier this week.
– The vice-president of global growth of Zomato, Mr. Siddharth Jhawar also resigned from his post, earlier this month.
Zomato’s loss and revenues
Net loss for Zomato is estimated at 251 crores for the September quarter. The revenue was reported to have increased by 62.2% to Rs.1661 crores, which was reportedly Rs.1024 crores in the previous year.
It has to be noted that over the last few months, various big tech firms that include Twitter, Meta, and Amazon have also laid off around 25,000 employees globally to cut down costs.
