Zomato is cutting its workforce by 3 per cent
Food-ordering app Zomato has cut its workforce up to 3 per cent as part of the regular performance-based layoffs, a company spokesperson told NDTV.
"There has been a regular performance-based churn of under 3 per cent of our workforce; there's nothing more to it," the spokesperson said.
At least 100 employees across functions are affected, a person with direct knowledge of the matter said, adding the process has been going on for the past two weeks.
Yesterday, Mohit Gupta, the co-founder of Zomato, announced he has resigned. In a note to the markets, the company attached a farewell message from Mr Gupta, who said he will remain a "long only investor in Zomato".
Zomato reported a smaller second-quarter loss on Thursday last, helped by a sustained rise in online ordering. Consolidated net loss for the three months ended September 30 was Rs 2.51 billion, compared with Rs 4.30 billion rupees a year earlier, the company said in a regulatory filing.
Revenue from operations rose to Rs 16.61 billion from Rs 10.24 billion.