Zomato to lay off 4% of workforce: Report

Amid global layoffs, Indian food tech giant Zomato It reportedly plans to cut its total workforce by at least 4% in a bid to cut costs, money control has reported.

At least 100 employees have already been affected in verticals such as products, technology, catalog and marketing, according to the report citing sources. However, employees in the supply chain have not been affected, he said.

“These roles had become redundant as these employees, who were mostly in mid- to upper-level roles, were working when the product was being refreshed. Now that the work on the product is over, they have been laid off,” a source quoted in the report said.

The report also said that Zomato founder and CEO Deepinder Goyal had recently hinted at layoffs at the town hall meeting held earlier this week.

The development comes at a time when the startup has seen a series of high-profile exits and its stock price has declined sharply in 2022.

Zomato

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On Friday, its co-founder Mohit Gupta resigned in the third major departure of a top executive from a leadership role this month.

Mohit joined in 2018 as CEO of the food delivery business, after serving as COO at online travel aggregator MakeMyTrip. Mohit was instrumental in bringing MakeMyTrip and Zomato public.

Earlier this month, Rahul Ganjoo, Zomato’s director of new business, announced his resignation. He had joined the company in 2017 as vice president. Zomato’s VP of Global Growth, Siddharth Jhawar, has also stepped down from his role to join Moloco as country manager for India.