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.
In May 2020, Gupta became Zomato's co-founder after building the segment's operations from scratch.
In a message that Gupta sent to his team, he stated "deciding to move on from Zomato to seek the other unknown adventures that life holds for me".
"Over the past few years, I have seen Deepi (Managing Director and CEO Deepinder Goyal) become an even more mature and confident leader who is now completely capable of leading the business into a bright future with all of you by his side. It is with this confidence that I am deciding to move on from Zomato to seek the other unknown adventures that life holds for me. As I look ahead, I am full of excitement for the vision that Zomato, Blinkit, Hyperpure and Feeding India are building towards," Gupta said in his note.
This is the third high-profile exit from Zomato in recent days.
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. (KB/IANS)