Swiggy anouncing moonlight policy

Swiggy employees will be allowed to work on external projects for money or pro-bono, said the food delivery firm on Wednesday about a moonlighting policy that it claimed is the industry’s first.Moonlighting should be outside office hours or on weekends, must not affect productivity or clash with Swiggy’s business.The Bengaluru-based company has around 5,000 employee and it works with more than 200,000 restaurant partners and stores in India.The policy is available to all full-time employees of Bundl Technologies Swiggy’s parent company,subsidiaries, affiliates, associates, and group companies. Projects that risk conflict of interest or interference with employees' duties to Swiggy are subject to an approval process.Swiggy’s employees policies come at a time when falling valuations, slowing funding and investor sentiment have prompted many Indian start-ups to lay off employees and conserve cash. The founders of edtech unicorn Unacademy took a salary cut; the firm’s offices discontinued complimentary meals and snacks; and “certain businesses” will be shut. Earlier this year, the edtech firm laid off more than 1,000 employees.Asked if such policies would help productivity and growth, Menon said that Swiggy is careful about spending and it invests in employees.Swiggy last week announced a permanent work-from-anywhere policy for the majority of roles after taking feedback from several managers and employees.Swiggy recently said it has reached its first milestone in implementing a two-year ESOP (employee stock ownership plan) liquidity programme. This year eligible Swiggy employees had the option to receive liquidity of up to $23 million against their ESOPs.