Swiggy lays off 380 employees, CEO says 'very difficult decision': Report

CEO Sriharsha Majety said the growth rate has slowed down more than the company's projections

 

Food aggregator Swiggy laid off 380 employees on Friday, a report by Business Today (BT) said. In a letter to the employees, the company's chief executive officer (CEO) Sriharsha Majety said that it is a "very difficult decision".

"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," he said in a letter to the employees, according to BT. 

"While our cash reserves allow us to be fundamentally well positioned to weather harsh circumstances, we cannot