Zomato fires over 500 workers; expects 25-40% restaurants to shut down in a year
Updated : May 15, 2020 10:13 PM IST
Foodtech company Zomato said it is shedding 13 percent of its workforce as it sees the restaurant industry shrinking by 25-40 percent in the next 6-12 months.
The Zomato cofounder said that while the company has a stable financial runway for now, employees will have to prepare for “things getting worse.”
Zomato has over 150 offices globally.The company is also going to see a temporary reduction in pay for the entire organisation starting June.