Foodpanda, Cisco announces job cuts

BusinessFoodpanda, Cisco announces job cuts


It looks like the layoff season is going to reintroduce itself amid the upcoming festive season all over the world. Singapore-headquartered food delivery company Food Panda is removing jobs. The company announced that it will be planning a new round of layoffs as the requirement to be “more agile remains critical.” You might be aware that this is the company’s third round of layoffs since Foodpanda made job cuts in February and September last year. 

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The job cuts come as Foodpanda parent Delivery Hero is believed to be in initial discussions with possible buyers to sell part of its Southeast Asian food delivery business.

“Our company’s priority right now is to become leaner, more efficient and even more agile. To do this, we need to streamline our operations so we can take on a more structured approach for the coming days,” said Jakob Sebastian Angele, APAC CEO of Foodpanda in a letter shared with the company’s employees.

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Earlier this year, the company announced some measures to ensure that there is a right set-up for their operations. The measures included evaluating organizational structure across both regional and country teams and moving some functional reporting lines into varied leaders for more consistency and direction, said Angele.

Grab, a major competitor to Foodpanda is reportedly going to buy Foodpanda’s Southeast Asia businesses. In 2021, it was noticed that the company shut down operations in Germany and exited the market in Japan in December 2021 in order to enhance profits. Grab is the leader in Southeast Asia’s food delivery market, having 54% of the region’s gross merchandise value in 2022, while Foodpanda captured 19% and Gojek held 12%, according to a report from tech research company Momentum Works.

Another networking giant company Cisco is presently in the process of organizing a new session of layoffs. These layoffs are in sync with the company’s restructuring plan that was announced back in November last year.

As per an online report, Cisco will be cutting jobs of 350 employees in Silicon Valley in October 2023. Light Reading, Cisco will take away jobs of 227 employees from its San Jose office and about 123 employees in Milpitas by mid-October.

The report also mentioned that the majority of the jobs that will be removed include software engineers.

Another company called Dunzo which has the backing of Reliance and Google has announced a fresh round of layoffs to reduce costs. The company has announced to the employees that they will receive their full and final settlements in January. 

Another source also mentioned that the removed employees will also be given the option to skip the notice period as well. The e-commerce startup had laid off 30 per cent of its employees after securing $75-million funding in April 2023. Also, the company management also planned a pivot in business model and went on to shut 50 percent of its dark stores across the country.

For the unversed, Dunzo, which was started in 2014, has secured fundings close to $500 million from Reliance Retail, Google India, Lightrock, Lightbox, Blume Ventures, and other investors

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