Zomato plans to lay off 3% of its workforce

Online food delivery platform Zomato on Saturday said it is planning to lay off nearly 3 per cent of its workforce on account of cost-cutting efforts and to turn profitable.

The decision comes after many tech giants and social media sites announced layoffs.

Zomato stated that layoffs will be based on regular performance.

"There has been a regular performance based churn of under 3 per cent of our workforce, there's nothing more to it," said a Zomato spokesperson.

The company currently has nearly 3,800 employees.

In May 2020, Zomato laid off about 520 of its employees, or 13 per cent of its staff, in response to a slump in business following the Covid pandemic.

Meanwhile, Zomato's co-founder Mohit Gupta quit the organisation on Friday.

Moreover, the food delivery platform announced earlier this week that Rahul Ganjoo had ended his 5-year tenure as Head of New Initiatives.

Earlier in the month, Zomato's Vice President for global growth Siddharth Jhawar announced his departure as well.

SEE ALSO: Keystone Realtors IPO : Here’s how you can check the allotment status
India on course to become world’s second largest economy by 2050, says Gautam Adani