Zomato, the food-ordering app, has cut its workforce by up to 3 percent as part of regular performance-based layoffs, a company spokesperson told NewsMadura.
“There is a regular performance-based turnover of less than 3 percent of our workforce; that’s all there is to it,” the spokesperson said.
At least 100 employees in various positions have been affected, a person with direct knowledge of the matter said, adding that the process has been ongoing for the past two weeks.
Yesterday Mohit Gupta, the co-founder of Zomato, announced his resignation. In a note to markets, the company added a farewell message from Mr Gupta, who said he will remain a “sole investor in Zomato for a long time”.
Zomato reported a smaller second-quarter loss last Thursday, aided by a continued surge in online orders. The consolidated net loss for the three months ended Sept. 30 was Rs 2.51 billion, compared to Rs 4.30 billion rupees a year earlier, the company said in a filing for filing.
Operating income increased from Rs 10.24 billion from Rs 16.61 billion.
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