Food delivery aggregator Zomato is laying off employees across functions, including technology, product and marketing, said a person with knowledge of the development, asking to remain anonymous.
"There has been a regular performance-based churn of under 3% of our workforce; there's nothing more to it," a Zomato spokesperson said. Zomato had around 3,800 employees before this churn.
Zomato last laid off 520 employees, or 13% of its staff, in May 2020 in response to the downturn in business following the outbreak of the coronavirus pandemic.
So far in 2022, at least 17,000 people have lost their jobs as startups trim their workforce in a push to become profitable. Over the last month, tech firms Twitter, Meta and Amazon have also laid off 25,000 employees globally to cut costs.
Zomato, meanwhile, has seen three senior level executives resign in recent weeks. On Friday, its co-founder Mohit Gupta stepped down after a four-and-a-half-year stint.
Earlier this month, Rahul Ganjoo, who headed Zomato’s new initiatives and Siddharth Jhawar, the former head of Intercity Legends service, also left the company.
Zomato reported a net loss of Rs 251 crore for the September quarter, down from Rs 430 crore a year ago, following a rise in income from food delivery and wholesale Hyperpure unit. Revenue from operations rose 62% to Rs 1,661 crore from Rs 1,024 crore a year earlier.
On Friday, Zomato shares ended at Rs 61.15 apiece.