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Swiggy To Lay Off Another 350 Employees Amid COVID-19 Crisis
Writer: Devyani Madaik
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India, 28 July 2020 1:24 PM GMT | Updated 29 July 2020 3:29 AM GMT
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In May, the food aggregator laid off 1,100 employees across grades and functions in cities and head offices as a part of the restructuring exercise.
After laying off 1,100 employees in May, online food delivery app Swiggy on Monday announced that it will be firing another 350 employees given the COVID-19 crisis.
The food delivery company said it was a part of the final realignment exercise, stating that there would be no further layoffs.
In an official statement, the company confirmed the realignment procedure that it had started in May, to come to an end with the laying of 350 employees.
The impacted employees will receive salary for three-to-eight months based on tenure (including an extra month of ex-gratia for every year served in addition to their notice period pay).
Along with this, they will also receive accelerated ESOP vesting (Employee Stock Ownership Plan), and health insurance till December as a part of severance pack, NDTV reported.
The package also includes learning support for both technical and professional skill development, job placement and counselling services etc.
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