Food delivery company Zomato announces lay off. In amidst of the layoff wave in the startup ecosystem, Zomato joined the list of companies to cut its workforce.
According to the media reports, company plans to cut around 4 per cent of the current workforce nationwide. The company has begun mass layoff across multiple functions has started, this announcement comes in as a part of restructuring and cost cutting exercise.
Additionally, it has come into the light that during a recent townhall, company's Co-founder and CEO Deepinder Goyal has hinted that there will be lay off citing role redundancy and aim to become profitable as major reasons for job cuts.
Mohit Gupta, Co-founder of Zomato, has left the company on Friday after four and a half years, marking the third high-profile departure from the food delivery giant in recent weeks.
Rahul Ganjoo, Zomato's New Initiatives Head and former Food Delivery Chief, resigned earlier this week, while Siddharth Jhawar, the company's Intercity Legends service head, announced his departure a week ago.
The food delivery company has suffered in the public market this year.