SAP and Swiggy, two prominent companies in the tech sector, have announced significant workforce reductions. SAP, nearly a year after a 2.5% workforce reduction, is initiating voluntary buyouts or role changes that will impact thousands of employees. Meanwhile, Swiggy, an India-based food and quick commerce company, is set to cut approximately 350-400 roles as it prepares for an IPO. The layoffs at Swiggy will affect around 6% of its workforce across various departments including tech, call centers, and some corporate roles. The move is part of Swiggy's efforts to prune costs and achieve profitability ahead of its planned public offering.
#ICYMI | Food and grocery delivery major @Swiggy initiated another round of #layoffs to prune costs and hit profitability in the run-up to an #IPO. By @_soumyajit37 & @digbijaymishra1 Read here: https://t.co/x1ypf4ndMQ https://t.co/SHqsh1NFqU
ETtech Top5 | @Swiggy to axe 400 jobs; @_groww vs @zerodhaonline race heats up Also in this letter: ■ @zomato, @stripe secure payment aggregator nod ■ Can GIFT-IFSC exchanges aid #startups? ■ Khazanah in talks to lead @oyorooms' funding round https://t.co/azcIH9I1Xa
India’s Swiggy to cut another 400 jobs ahead of IPO later this year: https://t.co/fd1qhq4S1e by TechCrunch #infosec #cybersecurity #technology #news
India’s Swiggy to cut another 400 jobs ahead of IPO later this year https://t.co/Vv3dQRcFqT
🚨🚨Swiggy to layoff 6% of workforce impacting 400 jobs: sources IPO-bound food and grocery delivery major #Swiggy has kicked off another round of #layoffs as it looks to prune costs and hit profitability, sources in the know said. https://t.co/x1ypf4ndMQ
🚨🚨 Exclusive: Food and quick commerce major Swiggy is set to cut about 400 roles, sources tell us. The cuts come as it is preparing for an IPO. More details to follow here with @digbijaymishra1 https://t.co/NryXpw5I7h
Newsbreak: Swiggy has begun a new round of layoffs at a time it is preparing to file draft IPO papers. It will cut 350-400 roles--about 6% across tech, call centre and some corporate roles. Breaking w/ @_soumyajit37 at @ETtech
After announcing a 2.5% workforce reduction nearly one year ago today, @SAP will initiate voluntary buyouts or role changes that will impact thousands of current employees. https://t.co/AJYyJ303e0 #techtrends2024 #techlayoffs #restructure #technews #sap #layoffs