According to a corporate representative who talked to NDTV, Zomato, a food ordering service, has reduced its personnel by up to 3% as part of ongoing performance-based layoffs.
The representative stated, ‘There has been a routine performance-based churn of under 3% of our personnel; there is nothing more to it.’
A person with firsthand knowledge of the situation informed that, ‘at least 100 employees from a variety of tasks are affected, and the process has been ongoing for the previous two weeks.’
The co-founder of Zomato, Mohit Gupta, announced his resignation yesterday. The firm included a parting letter from Mr. Gupta in a note to the markets, stating that he will continue to be a ‘long only investment in Zomato.’
Due to a consistent increase in online ordering, Zomato on Thursday last reported a reduced second-quarter deficit. According to the company’s regulatory filing, the combined net loss for the three months ended September 30 was Rs 2.51 billion rather than Rs 4.30 billion the year prior.
Operations revenue increased from Rs 10.24 billion to Rs 16.61 billion.
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