Zomato CEO Deepinder Goyal on Wednesday introduced that a number of staff have taken deep voluntary wage cuts because the enterprise has been hit owing to the COVID-19 lockdown. In a sequence of tweets, Goyal mentioned that eating out in lots of international locations has been badly hit.”To preserve our personal money flows, a whole lot of Zomato staff have taken deep voluntary wage cuts,” mentioned the Zomato CEO.
“We’re additionally donating for our supply companion fund, in addition to ‘Feed the Day by day Wager’ marketing campaign to assist the group throughout these occasions,” he added. Goyal additionally introduced a number of measures to calm the scenario. “All paid Zomato Gold memberships throughout India, the UAE, Australia, Indonesia, Philippines, Lebanon, Turkey, New Zealand, Portugal and Qatar will get a two-month membership extension at zero value,” he mentioned.
For its Gold companions (eating out), the corporate mentioned it would facilitate working capital loans to get via this robust time. Zomato can also be going to facilitate loans for its meals supply restaurant companions which have been severely hit due to their immobilised workforce in lockdown. He mentioned the Zomato is beginning a fund to cowl up the misplaced earnings for 1000’s of its supply companions. “We additionally hope that we get authorities assist to assist us with this,” Goyal mentioned. Zomato in January acquired Uber’s Meals Supply Enterprise in India in an all-stock Rs 2,500 crore deal the place Uber may have 9.99 p.c stake. Zomato additionally secured $150 million in recent funding from Ant Monetary, a subsidiary of China-based large Alibaba. The most recent spherical of funding in Zomato, which presently worth the corporate at $three billion, was a part of $600 million funding spherical introduced by Zomato CEO Goyal at a Delhi occasion final December.