Food supply platform Zomato has began shedding workers this week, as the corporate appears to chop prices and switch worthwhile, in response to a Moneycontrol report quoting sources. It stated that at the least 100 workers have already been impacted throughout capabilities akin to product, tech, catalogue and advertising. The report added that individuals within the provide chain haven’t been impacted. The firm plans to put off at the least 4 per cent of its whole workforce.
“These roles had change into redundant as these workers who had been principally from mid-to-senior roles had been working when the product was being revamped. Not that the product work is over, they’ve been let go,” the Moneycontrol report quoted one of the sources as saying.
Another source, according to the report, said Deepinder Goyal, founder and CEO of Zomato, held a town hall a few days ago where he hinted that there will be job cuts across functions that were not performing well. A few account managers dealing with cloud kitchens have already been replaced, sources said.
However, a Zomato spokesperson said, “There has been a regular performance-based churn of under 3 per cent of our workforce; there’s nothing more to it.”
The transfer by Zomato comes days after Big Tech giants Meta, Twitter, Amazon additionally laid off workers throughout roles amid the continuing troublesome macroeconomic situations.
On Friday, Zomato Co-founder Mohit Gupta additionally resigned from his submit. Gupta, who had joined Zomato four-and-a-half yr again, was elevated to co-founder in 2020 from the place of CEO of its meals supply enterprise.
In a message despatched to the Zomato which was shared on the BSE by the corporate, Gupta stated he’s “deciding to maneuver on from Zomato to hunt the opposite unknown adventures that life holds for me”.
For the second quarter ended September 2022, Zomato’s consolidated net loss narrowed to Rs 250.8 crore, which was lower on a year-on-year basis. The company’s consolidated net loss stood at Rs 434.9 crore in the year-ago period.
Revenue from operations increased to Rs 1,661.3 crore during the July-September quarter, as against Rs 1,024.2 crore in the corresponding period a year ago. Its total expenses also rose to Rs 2,091.3 crore during the quarter under review, from Rs 1,601.5 crore a year ago.
Read all of the Latest Business News right here
