Movers and Shakers Of The Week [18 -23 May]
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India, May 23 -- We bring to you the latest edition of movers and shakers of the week in the Indian startup ecosystem.
This week, several Indian startups have announced massive layoffs across verticals in their companies. To begin with, Bengaluru-based foodtech unicorn Swiggy announced that it is laying off around 1100 employees.
For the laid-off employees, the company is offering at least 3 months of salary irrespective of their notice period or tenure. Further, for every year in Swiggy, the company will be offering an extra month of ex-gratia in addition to their notice period pay, working out to between 3-8 months of salary depending on the tenure.
The company will also offer outplacement and skilling support over the next three mon...
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