Swiggy is cutting 350-400 employees, around 7% of its workforce, to reduce costs and move towards profitability. This is the second round of layoffs for the Bengaluru-based firm. Startups in India are focused on achieving profitability due to tough global conditions and investor selectivity. Swiggy's core food delivery business turned profitable in March 2023. Last year, in a blog post Swiggy co-founder and CEO Sriharsha Majety had said that its core food delivery business had turned profitable as of March 2023 excluding employee stock option costs.