Indian food delivery company Swiggy plans to lay off 6% of its workforce as it aims to cut costs and increase profitability ahead of its initial public offering (IPO), the Economic Times reported on Thursday.
The job cuts will impact around 350-400 employees across teams including technology, call center and corporate roles, the report said, citing sources.
Swiggy will lay off employees gradually over the coming weeks, it added.
Swiggy did not immediately respond to Reuters’ request for comment.
The Softbank Group-backed company cut about 380 jobs early last year, citing difficult macroeconomic conditions.
Swiggy is targeting an IPO between July-September after halting the process last year due to weak markets.
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Published: 25 Jan 2024, 18:14 IST