Zomato Cuts 600 Jobs Amid Automation Surge

• Zomato has laid off nearly 600 employees from its customer support team due to performance issues and restructuring.
• The layoffs follow a previous hiring spree under the ZAAP, with many employees not getting tenure renewals.
• BofA Securities recently downgraded Zomato's shares from 'Buy' to 'Neutral' and reduced the target price.
• The job cuts come amid slowing growth in food delivery and rising competition in quick commerce.
• Zomato is increasingly using AI to automate customer support functions and reduce costs.

Source: Inc42