Swiggy, the leading Indian company, to reduce 400 job positions before anticipated IPO in 2021

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India’s Swiggy to cut another 400 jobs ahead of IPO later this yearIndian food delivery startup Swiggy is cutting about 400 jobs, or nearly 7% of its workforce, as the startup seeks to bring further improvements to its finances ahead of a planned IPO later this year. This is the second round of layoff at the Bengaluru-headquartered startup, which cut just as many jobs early last year. The move comes as Swiggy attempts to further improve its finances. Though its food delivery business is profitable, the startup is not profitable at a group level. Zomato, Swiggy’s chief rival, became profitable last year.