Zomato axes around 100 employees in cost-cutting drive
5 years, 5 months ago

Zomato axes around 100 employees in cost-cutting drive

Live Mint  

Bengaluru: Food delivery and restaurant discovery platform Zomato has laid-off around 70-100 employees in its customer support team at its office in Gurgaon, as the company looks to cut costs and reduce redundancies across its food delivery business, said three people aware of the development. Mint wasn’t able to verify whether employees were paid severance in advance, however, according to a person aware of the company’s operations, Zomato currently spends anywhere ₹4- ₹5 per order on customer support and after-sales services on each food order. Customer support is currently a major cost for both Zomato and Swiggy, and due to high volumes of orders spending ₹4 to ₹5 per order is a significantly high cost …So this is sort of intelligently scrapping away unnecessary spending on human resource,” added the person requesting anonymity. Zomato’s current lay-offs also come just months after its smaller rival FoodPanda, owned by Ola suspended its food delivery marketplace business and laid-off at least 40-50 mid-level employees and ended contracts with most of its 1,5000 delivery executives in May.

Food Support Delivery Customer Support Million Zomato Swiggy Customer  100  zomato  million  redundancies  costcutting  axes  orders  focus  support  delivery  swiggy  food  employees  drive  customer

History of this topic

Zomato shares up 131% this year: Should you buy multibagger stock?
1 month, 1 week ago

Zomato shares up 131% this year: Should you buy multibagger stock?

India Today  

Food delivery giant Zomato’s shares surged over 131% on a year-to-date basis, delivering multibagger returns to investors. Zomato plans to invest Rs 2,100 crore in Blinkit’s capex over FY2026-28, including the development of dark stores and warehousing capabilities. The brokerage noted that Zomato’s food delivery business continues to grow, with a 24% year-on-year increase in power customers to 34 lakh …

Zomato CEO Deepinder Goyal’s advice to Swiggy: ‘Competent people can’t recognise they are complacent, don’t…’
1 month, 2 weeks ago

Zomato CEO Deepinder Goyal’s advice to Swiggy: ‘Competent people can’t recognise they are complacent, don’t…’

Live Mint  

Swiggy, a direct competitor to Zomato and one of India's leading food delivery aggregators made its highly anticipated stock market debut on November 13. Interestingly, just weeks before Swiggy's IPO, Zomato CEO Deepinder Goyal had some advice for Swiggy's employees, reflecting on his company's own experience of going public in 2021, the Times of India reported. Speaking at the ET …

Zomato eyes 30 per cent annual growth in food delivery business in next 5 years: Report
1 month, 3 weeks ago

Zomato eyes 30 per cent annual growth in food delivery business in next 5 years: Report

India TV News  

Zomato, an Indian food delivery major reportedly expects its key meal delivery business to grow at an annual rate of 30 per cent over the next 5 years, a top executive stated, hailing the listing of SoftBank-backed peer Swiggy as a boost for the sector. It was on Monday when Rakesh Ranjan, Zomato's food delivery CEO said, "The food delivery …

Zomato Welcomes Swiggy to Stock Market With Warm Post as it Makes Debut
1 month, 3 weeks ago

Zomato Welcomes Swiggy to Stock Market With Warm Post as it Makes Debut

Deccan Chronicle  

Hyderabad: Food delivery giant Zomato on Wednesday shared a post welcoming its rival Swiggy as it made its stock market debut. Couldn't have asked for a better company to serve India with," he wrote on X. Swiggy got listed at Rs 420 on the NSE, a 7.69 per cent jump from the issue price. According to a report by PTI, …

Zomato Surges 8% After JPMorgan Hikes Target Price; Check Details
4 months ago

Zomato Surges 8% After JPMorgan Hikes Target Price; Check Details

News 18  

Shares of food delivery platform Zomato surged 8 per cent to Rs 261.50 on the BSE in Thursday’s intra-day trade amid heavy volumes in an otherwise lacklustre market. For Blinkit, the company’s quick commerce arm, revenues surged 145 per cent year-on-year to Rs 942 crore, though adjusted EBITDA for the same period stood at Rs -3 crore. The gross order …

Zomato collected ₹83 crore in platform fee from customers till March
5 months ago

Zomato collected ₹83 crore in platform fee from customers till March

The Hindu  

Food delivery aggregator Zomato, which began charging platform fee on orders from last August, collected ₹83 crore through the new levy till March, the company's annual report has revealed. Platform fee has been cited as one of the three key factors driving Zomato's Adjusted Revenue, which grew 27% year-on-year to ₹7,792 crore in FY24. "Adjusted Revenue as a percentage of …

Zomato Shares Zooms Over 12%, Hit 52-Week High After Reporting Significant Profit Jump
5 months ago

Zomato Shares Zooms Over 12%, Hit 52-Week High After Reporting Significant Profit Jump

ABP News  

Shares of Zomato soared more than 12 per cent on Friday following the food delivery aggregator's announcement of a substantial increase in consolidated net profit, reaching Rs 253 crore for the June quarter. On the NSE, Zomato's stock surged 12.14 per cent to trade at Rs 262.50 per share. Zomato's impressive performance for the April-June period of FY25 was highlighted …

Zomato Q1 results: Zomato net profit up 126 times to ₹253 crore in April-June quarter; revenue rises 74%
5 months, 1 week ago

Zomato Q1 results: Zomato net profit up 126 times to ₹253 crore in April-June quarter; revenue rises 74%

The Hindu  

Food delivery aggregator Zomato on Thursday reported a multifold jump in consolidated net profit to ₹253 crore for the April-June quarter of 2024-25 compared to ₹2 crore in the year-ago period. In a letter to shareholders, Zomato Chief Financial Officer Akshant Goyal shared that the gross order value growth across its B2C businesses accelerated to 53% YoY to ₹15,455 crore. …

Swiggy, Zomato hike platform fees; online food delivery to cost more
5 months, 3 weeks ago

Swiggy, Zomato hike platform fees; online food delivery to cost more

The Hindu  

Food delivery apps Swiggy and Zomato have hiked platform fees, pushing charges up per order by 20% to Rs. The platform fee is a different charge from the delivery fee, goods and services tax, restaurant charges and handling charges that are levied. Last year, Zomato had pushed up the platform fee to Rs.3 finally helping it gain profitability. Then, earlier …

Zomato gets tax demand order of Rs 23.26 crore, online food delivery platform to appeal against it
9 months, 1 week ago

Zomato gets tax demand order of Rs 23.26 crore, online food delivery platform to appeal against it

India TV News  

Zomato on Sunday stated that it has been issued a tax demand, along with interest and penalty, amounting to Rs 23.26 crore by the Assistant Commissioner of Commercial Taxes in Karnataka. Zomato's regulatory filing In a regulatory filing to the BSE, the company said it has "received an order for FY 2018-19 pursuant to the audit of GST returns and …

Zomato surges over 5 per cent after posting third straight quarter of profit at Rs 138 crore
11 months ago

Zomato surges over 5 per cent after posting third straight quarter of profit at Rs 138 crore

India TV News  

Shares of online food delivery firm Zomato Ltd surged over 5 per cent on Friday following the company's announcement of a consolidated net profit of Rs 138 crore for the third quarter ended December 31, 2023. Zomato Ltd's revenue surged by 69 per cent year-on-year to reach Rs 3,288 crore, contrasting with the challenges faced by the broader e-commerce sector …

Zomato soups in new controversy as it retracts from ₹1.6 cr salary job offer
1 year, 1 month ago

Zomato soups in new controversy as it retracts from ₹1.6 cr salary job offer

Live Mint  

Online food delivery platform Zomato is once again facing the ire of the netizens as on the student of Indian Institute of Technology Delhi took to social to say how the online firm has gone back on its words regarding the placement. Hrithik Talwar, who is a research intern in IIT-Delhi wote on X “Zomato came to the campus, offered …

Zomato Q1 Results: Food delivery firm posts first-ever net profit of ₹2 crore
1 year, 5 months ago

Zomato Q1 Results: Food delivery firm posts first-ever net profit of ₹2 crore

Live Mint  

Food delivery platform Zomato on Thursday announced its Q1 earnings for FY24. Zomato, which also runs grocery delivery service Blinkit, said consolidated revenue from operations rose 70.9% to 24.16 billion rupees in the first quarter. Consolidated revenue from operations in the first quarter of the current fiscal was at ₹2,416 crore as against ₹1,414 crore in the year-ago period, it …

Zomato share price: Brokerages bullish on stock, upgrades estimates for FY24
1 year, 7 months ago

Zomato share price: Brokerages bullish on stock, upgrades estimates for FY24

Live Mint  

Zomato's last quarter of FY23 was sweeter with profitability in the food delivery business improving, hypercure continuing on a steady growth, alongside a meaningful reduction in losses of Blinkit business. Read here: Zomato’s consolidated loss narrows in Q4; eyes profitability in next four quarters Zomato's performance was primarily driven by the company’s food delivery segment, which delivered an adjusted Ebitda …

Zomato shares seen to rally over 95% as brokerage bullish on ‘long-term story’
1 year, 10 months ago

Zomato shares seen to rally over 95% as brokerage bullish on ‘long-term story’

Live Mint  

The relaunch of Zomato’s membership programme and its likely impact on the food delivery vertical’s profitability, going forward, continues to intrigue the Street, highlighted brokerage JM Financial. We also believe that the company has enough levers both on revenue as well as variable cost that should partially negate the impact of the free delivery benefit for Gold members,” the note …

Zomato exits 225 cities, reports losses of Rs 346 crore: All details here
1 year, 10 months ago

Zomato exits 225 cities, reports losses of Rs 346 crore: All details here

India Today  

Zomato, during its quarter three financial earnings report, noted that the food delivery tech company's losses have widened further. The company's decision to pull out of 225 small cities comes at a time when it is planning to hire people for around 800 roles. Zomato will no longer be available in 225 small cities The company, in its financial earnings …

Zomato is hiring, founder is looking for people who can work 24 hours with no work-life balance
1 year, 11 months ago

Zomato is hiring, founder is looking for people who can work 24 hours with no work-life balance

India Today  

After firing nearly 3 per cent of its workforce, online food delivery is hiring for various positions. Zomato founder Deepinder Goyal recently revealed in his LinkedIn post that the company is hiring for around 800 positions, but what caught attention was one of the job requirements. For one of the posts, the Zomato founder noted the candidate should forget work …

‘24*7 job, no work-life balance’: Zomato posts 800 vacancies amid mass layoffs
1 year, 11 months ago

‘24*7 job, no work-life balance’: Zomato posts 800 vacancies amid mass layoffs

Hindustan Times  

Amid a slew of layoffs across tech giants like Wipro, Microsoft, Amazon, Google, Meta and Twitter, Zomato CEO Deepinder Goyal on Monday posted about nearly 800 job openings at the food delivery firm. In a LinkedIn post, Goyal shared that the firm is hiring across five positions - chief of staff to CEO, generalist, growth manager, product owner, and software …

After Zomato, Swiggy Likely to Lay Off 250 Employees This Month
2 years, 1 month ago

After Zomato, Swiggy Likely to Lay Off 250 Employees This Month

News 18  

After Zomato, Swiggy may lay off more than 250 employees or up to 5 per cent of its workforce starting this month. Last month, global brokerage firm Jefferies said that Swiggy was fast losing market share to its rival Zomato despite offering heavy discounts. Citing Swiggy investor Prosus’ financial report, Jefferies said that the gross value of Swiggy’s food delivery …

Zomato fires employees across departments, co-founder also quits
2 years, 1 month ago

Zomato fires employees across departments, co-founder also quits

Op India  

Amid record-high inflation and a looming threat of recession, Zomato, the food ordering app, has laid off employees across functions, including technology, product and marketing, reported Livemint. Co-founder Mohit Gupta resigns, third high-profile exit in recent days The report about the layoff comes three days after its co-founder Mohit Gupta stepped down in the third major exit of a senior …

Zomato layoffs: Employees across departments fired, co-founder also quits
2 years, 1 month ago

Zomato layoffs: Employees across departments fired, co-founder also quits

India Today  

Food delivery aggregator Zomato is asking employees across departments to leave the company. It is said that the company is letting go of around 3 per cent of the workforce in the latest episode of layoffs. "There has been a regular performance-based churn of under 3 per cent of our workforce; there's nothing more to it," the Zomato spokesperson said. …

Zomato lays off under three per cent of its workforce: Report
2 years, 1 month ago

Zomato lays off under three per cent of its workforce: Report

Hindustan Times  

Food aggregator platform Zomato has confirmed that it will lay off around three per cent of its workforce across various departments in the organisation. A company spokesperson told Hindustan Times' business website Livemint that the company witnessed a regular performance-based churn of under three per cent of the workforce. On November 10, the food delivery platform had reported narrowing of …

Zomato shares see biggest one-day gain in 2 months after as Q2 losses narrow
2 years, 1 month ago

Zomato shares see biggest one-day gain in 2 months after as Q2 losses narrow

Live Mint  

Shares of Zomato Ltd today surged the most in two months after the food delivery firm reported a narrower loss for the second quarter. Zomato post market hours on Thursday reported narrowing of its consolidated net loss to ₹250.8 crore for the second quarter ended September 2022, as compared to ₹434.9 crore loss in the year-ago period. "We are building …

Zomato hopeful of turning profitable within one year
2 years, 4 months ago

Zomato hopeful of turning profitable within one year

Live Mint  

Zomato is likely to turn profitable within a year, the company’s management said at its first annual general meeting post-listing on Tuesday. Akshant Goyal, chief financial officer, Zomato told shareholders: “At the company level we should break even in six months to a year…without Blinkit which will take a bit longer,” Moneycontrol report said quoting Goyal. With the $1.6 billion …

Zomato edges past Swiggy in India’s food delivery market, finds report
2 years, 4 months ago

Zomato edges past Swiggy in India’s food delivery market, finds report

Firstpost  

Zomato’s acquisition of Blinkit has helped it close the gap with Swiggy and race ahead of it in terms of market share Food delivery platform Zomato is edging ahead of its competitor Swiggy, as per a report by brokerage firm Bernstein India. However, that has started to change with Zomato expanding share to around 55 per cent in food delivery,” …

Zomato shares decline after huge block deals, Uber likely seller
2 years, 5 months ago

Zomato shares decline after huge block deals, Uber likely seller

Live Mint  

Shares of Zomato Ltd declined as much as 10% on the BSE in Wednesday's opening deals as an undisclosed shareholder offered to sell 612 million shares at a discount, a stake matching that held by Uber Technologies, which owns 612.2 million shares in Zomato, according to data compiled by Bloomberg. Uber is the likely seller of a 7.8% stake in …

Zomato to move to multiple CEO structure under larger organisation Eternal
2 years, 5 months ago

Zomato to move to multiple CEO structure under larger organisation Eternal

Live Mint  

Online food delivery aggregator Zomato is moving to a multiple CEO structure for its businesses that will be housed under a larger organisation called Eternal. “We are transitioning from a company where I was the CEO to a place where we will have multiple CEOs running each of our businesses, all acting as peers to each other, and working as …

Zomato shares: Analysts warn of selloff risks as one-year lock-in ends soon
2 years, 5 months ago

Zomato shares: Analysts warn of selloff risks as one-year lock-in ends soon

Live Mint  

Zomato share price: The public offer of food service platform Zomato Limited was listed on BSE and NSE on 23rd July 2021 that means one year lock-in for promoters, employees, and other will end next week. With this one year lock-in of around 613 crore Zomato shares, which is to the tune of 78 per cent of total paid up …

Zomato to start 10-minute food deliveries, says founder Deepinder Goyal
2 years, 9 months ago

Zomato to start 10-minute food deliveries, says founder Deepinder Goyal

Live Mint  

As quick services catch up with food aggregator platforms, Ant Group-backed Zomato Ltd plans to deliver food in 10-minutes, the company’s founder Deepinder Goyal said in a blogpost on Monday. “After becoming a frequent customer of Blinkit, I started feeling that the 30-minute average delivery time by Zomato is too slow, and will soon have to become obsolete. And here …

Swiggy clocks over 9,000 orders, Zomato crosses 7,000 orders per minute on New Year's Eve
3 years ago

Swiggy clocks over 9,000 orders, Zomato crosses 7,000 orders per minute on New Year's Eve

Firstpost  

Both platforms clocked over 2 million orders each, compared to the 1.3-1.5 million they usually clock in a day. While Zomato touched a high of 7,100 orders per minute, Swiggy crossed the 9,000 orders per minute mark as of 8:20 pm on December 31, 2021. While Zomato’s previous record was over 4,000 orders per minute, Swiggy clocked over 5,000 orders …

Zomato to stop grocery delivery service from September 17
3 years, 3 months ago

Zomato to stop grocery delivery service from September 17

The Hindu  

Online food delivery platform Zomato has decided to stop its grocery delivery service from September 17 mainly on account of gaps in order fulfillment, leading to poor customer experience. Hence, we intend to stop our pilot grocery delivery service effective 17 September, 2021". Earlier Zoamto had said that it had invested USD 100 million for acquiring a minority stake in …

Swiggy and Zomato lay off employees amidst the coronavirus crisis
4 years, 7 months ago

Swiggy and Zomato lay off employees amidst the coronavirus crisis

Op India  

Following Zomato’s decision to lay off employees as the coronavirus crisis exacts an unprecedented economic toll, rival Swiggy has also decided to cut jobs. Talking about the economic impact of the lockdown, Majety said that the organisation’s core business has been at the receiving end of the economic inertia caused by the coronavirus induced lockdown. Zomato laid off 13 per …

Zomato axes 13% workforce, cuts salary up to 50% for all; work from home to become permanent feature
4 years, 7 months ago

Zomato axes 13% workforce, cuts salary up to 50% for all; work from home to become permanent feature

Firstpost  

Zomato’s business has been severely affected by the COVID-19 induced lockdown as a large number of restaurants have already shut down permanently. CEO Deepinder Goyal on Friday announced job cuts to nearly 13 percent of the firm’s workforce – over 600 employees – via Zoom calls, along with salary cuts for the rest of the employees for at least the …

Zomato to lay off 13% workforce
4 years, 7 months ago

Zomato to lay off 13% workforce

The Hindu  

Online food-delivery platform Zomato on Friday said it will reduce its workforce by 13%, while also implementing a temporary pay cut of up to 50% for remaining employees as nationwide lockdown to prevent spread of COVID-19 severely affected its business. “I foresee this to be around 6 months from now.” On letting go of employees, Mr Goyal said the Zomato …

Zomato to raise up to $600 mn next month: Deepinder Goyal
5 years, 1 month ago

Zomato to raise up to $600 mn next month: Deepinder Goyal

Live Mint  

Online restaurant guide and food ordering platform Zomato is looking to raise up to USD 600 million next month in a new funding round, its founder and CEO Deepinder Goyal said on Friday. "We are going to raise USD 500-600 million next month or so," Goyal said adding that good companies can raise money in hard times or good times. …

Zomato revenue jumps by 225% to $205 million in April-September 2019; monthly cash burn rate down 60%
5 years, 3 months ago

Zomato revenue jumps by 225% to $205 million in April-September 2019; monthly cash burn rate down 60%

Firstpost  

New Delhi: Online restaurant guide and food ordering platform Zomato on Tuesday said its monthly burn rate is down to 60 percent of what it was six months ago. Talking about its Zomato Gold programme, Goyal said: “Gold takes the Zomato experience one notch further – from discovery to loyalty. “Some restaurant owners in India campaigned against Zomato Gold last …

Zomato cuts monthly burn rate to 60 pc; revenues zoom
5 years, 3 months ago

Zomato cuts monthly burn rate to 60 pc; revenues zoom

India TV News  

Online restaurant guide and food ordering platform Zomato on Tuesday said its monthly burn rate is down to 60 per cent of what it was six months ago. Talking about its Zomato Gold programme, Goyal said : "Gold takes the Zomato experience one notch further – from discovery to loyalty. "Some restaurant owners in India campaigned against Zomato Gold last …

Order nahi kiya kya? Zomato lays off 541 employees, points to automation
5 years, 4 months ago

Order nahi kiya kya? Zomato lays off 541 employees, points to automation

India TV News  

Online restaurant guide and food ordering platform Zomato laid off 541 employees on Saturday across its customer, merchant and delivery partner support teams, firing around 60 workers within a month. The reason behind the move is the company's improved platform with Artificial Intelligence -driven bots and automation in resolving customer queries that has led to an overall reduction in direct …

Discover Related