Swiggy Shuts Down Meat Marketplace Offering Immediately After Sacking 380 Employees

Food distribution platform, Swiggy, on Friday, fired 380 employees as part of a restructuring exercise.

Author: India.com News Desk Edited by: Anurag Kumar

Updated: January 20, 2023, 12:28 PM IST

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https://www.india.com/business/swiggy-layoffs-company-sacks-380-employees-today-meat-marketplace-shut-down-immediately-ceo-says-extremely-difficult-decision-5862176/ Copy

The move comes days after Swiggy laid off 380 employees as part of cross-cutting measures. (Representational Image)

Swiggy Layoffs: The year 2023 has not started well for many as the job markets seem to be really volatile as many big companies have opted for mass layoffs to cope with the “extremely difficult situation”. Food distribution platform, Swiggy, on Friday, fired 380 employees as part of a restructuring exercise. The company called it an “extremely difficult decision”.

Read: Swiggy’s Email Announcing The Layoffs

“We’re implementing a very difficult decision to reduce the size of our team as a part of a restructuring exercise. In this process, we will be bidding goodbye to 380 talented Swiggsters. This has been an extremely difficult decision taken after exploring all available options, and I’m extremely sorry to all of you for having to go through with this,” the company announced in an email this morning.

“Effective very soon, we will be shutting down our Meat marketplace. While the team has done exceptionally well with solid inputs, we haven’t hit product-market fit here despite our iterations. From a customer perspective, we will still continue to offer meat delivery through Instamart. We will continue to stay invested in all other new verticals,” the mail said.

Many big companies like Twitter, Microsoft, Goldman Sachs, and Amazon have gone for mass layoffs owing to the market conditions.

The CEO said the company is committed to exploring new business opportunities but has also taken a “harder look” at some of its existing new verticals.