Dale Vaz, Swiggy CTO has resigned
There are multiple VPs and Directors leaving in parallel. Is this a mass exodus of senior leadership any indication of the state of the company?
StartupBaba
Stealth
a year ago
Yes, Same is happening in Upstox, Byjus, Unacademy, Fampay and multiple startups
Layoffs are coming in these companies, these type of trends indicate layoffs are coming here
Not necessarily, in some cases it’s just burnout - chasing profitability and operational excellence for years at a stretch. Leaders also have immense pressure to turn around the company, and it takes a toll on everything. The joy of building new is replaced with daily fire fighting, and that’s one reason folks like Instamart Karthik are taking a break.
https://m.economictimes.com/tech/startups/building-instamart-has-taken-a-toll-outgoing-head-of-swiggys-quick-commerce-business-karthik-gurumurthy/articleshow/99135801.cms
AntonKriel
Stealth
a year ago
Yeah, you are right. Chances of them feeling burnout at the same time is far more than layoff possibilities.
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Indusplateau
Stealth
a year ago
How long before they go bust?
Swiggy is surprisingly a success story, till now. They have 1B in the bank, and strong signals of turning profitable across verticals lately. An IPO is expected next year.
Indusplateau
Stealth
a year ago
Zomato a public company is struggling. It obvious that something is not working as planned. If its profitable, the senior leadership will take sabbatical not exit.
Don't think Swiggy will be having another round of layoffs. This might well be part of their IPO readiness plan to shake some more big bucks cost or Dale already had a plan to leave by himself and though leaving now as compared to near IPO launch is better. I am more inclined towards the latter as he would be having a lot of Swiggy stocks (~100 Cr) and doesn't want Swiggy (his Stocks) to get impacted negatively from the news.
These would be counselled out . Leadership isn’t laid off per se but they are asked by founders / CEO to resign.
Can you tell who all are leaving from Swiggy apart from Dale and Karthik?
For Swiggy, most important thing is to get to profitability to be able to do ipo. They have already done layoffs of junior and mid level employees in Jan. removing leadership now helps them further reduce fixed costs and get to profitability.
Also Karthik in his LinkedIn post mentioned something about 13 million dollar hole - what was that?
