After Twitter and Facebook’s parent company Meta, now food aggregator Zomato has also announced retrenchment of employees.
Zomato will also lay off employees after Twitter
Zomato Announcement: Globally, the effect of instability in India’s market is clearly visible on the private sector. After Twitter and Facebook’s parent company Meta, now food aggregator Zomato has also announced retrenchment of employees. According to the information given by Zomato, the company will lay off up to 3 percent of its employees. Food aggregator app Zomato has made up its mind to show the way out to around 100 employees. These employees are contributing to different departments of the company, such as Product, Tech, Catalog and Marketing. About 3 percent of the total workforce of the company is intended to be discharged.
The latest news of retrenchment in Zomato has come at a time when there are continuous resignations in the management of the company. Last Friday itself, the company’s co-founder Mohit Gupta left his post. in the last few days Zomato This was the third resignation in the management of In the same week, the company’s new initiative head Rahul Ganju resigned from his post. Apart from this, Siddharth Jhawar, head of Intercity Legends Services, left the company a week ago.
Food-ordering app Zomato has cut up to 3 per cent of its workforce as part of regular performance-based layoffs, says a company spokesperson. Less than 3 percent of our workforce has been churning on the performance of regular employees, nothing more, at least 100 employees have been affected across functions, this process is going on for the last two weeks.
Poor performers can lose their jobs
Let us tell you that Deepender Goyal, the founder and CEO of Zomato, had recently indicated that jobs can be terminated in the segments of the company which are not performing well. Actually, Zomato is going through many big changes these days. Recently, the company had announced that their delivery services would be discontinued in the UAE. It was told that the orders of the people living there would be transferred to another app.
Co-founder will also resign
Zomato co-founder Mohit Gupta has announced his resignation yesterday. In a note to the markets, he attached a farewell message, in which he said he would remain the sole long-term investor in Zomato. Zomato last Thursday reported a lower loss in the second quarter. The continued growth in online orders helped. The company said in a regulatory filing that consolidated net loss for the three months ended September 30 stood at Rs 2.51 billion, compared to Rs 4.30 billion a year ago. At the same time, revenue from operations increased from Rs 10.24 billion to Rs 16.61 billion.
layoffs due to recession
Due to the global recession, layoffs are taking place in other sectors including IT. In the past, Facebook’s parent company – Meta had talked about firing more than 11000 employees. Apart from this, many companies including Amazon, Twitter and Microsoft are doing layoffs. Startups like Byju’s and Unacademy in India have also announced layoffs.
English News Headline :Zomato will also lay off employees after Twitter.