(Reuters) – Indian food delivery startup Swiggy is set to lay off 6% of its workforce as it seeks to reduce costs and increase profitability ahead of its initial public offer (IPO), the Economic Times reported on Thursday.
The job cuts would impact about 350-400 employees across teams including technology, call centre, and corporate roles, the report said, citing sources.
Swiggy will lay off employees gradually over the coming weeks, it added.
Swiggy did not immediately reply to Reuters’ request for comment.
The Softbank Group-backed company slashed about 380 jobs early last year, citing challenging macroeconomic conditions.
Swiggy is aiming for an IPO a between July-September after halting the process last year due to weak markets.
(Reporting by Angela Christy in Bengaluru; Editing by Varun H K)
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