Zomato to eliminate 3% of its workforce: Report

Zomato, a food aggregate platform, has announced that it will eliminate 3% of its workforce across all organisational divisions.

According to a firm representative, less than 3% of the workers left the company on a regular basis based on performance. According to the business website Livemint of the Hindustan Times, the layoffs follow the recent departures of three top executives from the organisation. Mohit Gupta, a co-founder of Zomato, left the company on Friday after working there for four and a half years. He was in charge of the food distribution operation when he left. In 2020, he was promoted to co-founder.

Gupta stated his intention to move on and pursue other uncharted adventures that life has in store for him in a statement to Zomato that was released by the business on the website of the Bombay Stock Exchange.

Along with Gupta, the leader of Zomato’s new ventures, Rahul Ganjoo, and the service’s head, Siddharth Jhawar, all announced their resignations earlier this month. The meal delivery service said on November 10 that its consolidated net loss for the second quarter, which ended in September, had shrunk to 250.8 crore.

In the prior fiscal year, the company’s total net loss was 434.9 crore rupees.

According to a regulatory filing, operating revenue climbed to 1,661.3 crore for the quarter of July through September from 1,024.2 crore during the same period the year prior.

The company said this is the first quarter where it has crossed the billion dollar annualised revenue mark.