Due to the coronavirus, swiggy, and many countries around the world are forced to face lockdown at this time, the country arrest has had a very bad effect on the economy and industry businesses. Due to which many people in India are facing the threat of jobs.
There has been a huge fall in food services in the lockdown, due to which many companies are suffering a lot of losses. Due to this deficit, companies like Swiggy have decided to lay off their employees. Online food company Swiggy has decided to lay off its 100 employees in the next few days. Prior to this, Swomgy’s competitor company Jomoto has announced to lay off 13 percent of its employees. Apart from this, she has also retrenched the salary of the remaining employees.
Swiggy’s co-founder Mr. Harsh Majeti has said that the food delivery business has been deeply affected and this will take a lot of time to manage. Although it is expected to be back on track in the coming time, we need to work hard to reduce the number of employees in our company and to deal with any uncertainty in the coming time.
The hotel business has suffered a huge setback due to the lockdown, which will take several years to emerge. The direct impact of this will be seen in online food delivery companies. According to the report, Swiggy’s demand has decreased by 40 percent, due to which the company is forced to take this decision. Majenti has said that this will have the biggest impact on the company’s cloud kitchen. He said that we are going to close the business which is going to be completely unstable or there will be no need for them for the next 14 months.
The founder said that the employees who will be laid off will be given 3 months’ salary for accelerated vesting, health insurance till December, and extra time for every year they spend in the company.
According to Narai, the business of companies like Jomato Swiggy has come down to 90 percent. It is estimated that due to Corona, its 5 lakh members may suffer a loss of 40 thousand crore rupees in the year 2020. There is no relief for companies like restaurants and food delivery even in the entire financial package of 20 lakh crores which came from the government before 0, which can take years to get such companies back on track.