Eternal to lay off around 250 employees as it shuts Hyderabad customer support centre

Eternal to lay off around 250 employees as it shuts Hyderabad customer support centre


Eternal, the parent company of Zomato and Blinkit, is set to lay off around 250 employees as part of a restructuring of its customer support operations, sources told CNBC-TV18.

The company is shutting its customer support centre in Hyderabad, with affected employees informed of the decision on Monday morning, August 31, according to people familiar with the development.

Employees affected by the closure have been offered severance equivalent to four months, the sources said.

Customer support operations will now be consolidated at Eternal’s Gurugram headquarters, while the company is also outsourcing a larger share of the function to external partners.

Why Eternal is changing its customer support model

The restructuring hasn’t happened overnight. Sources said changes to Zomato’s customer support model have been underway for around six months.

The company wants to bring its remaining in-house support teams closer to its product, technology and analytics functions, which are based largely at its Gurugram headquarters.

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The shift effectively leaves Eternal with a more centralised in-house customer support operation while relying more heavily on third-party providers for other support functions.

CNBC-TV18 has reached out to Eternal for comment. A response from the Gurugram-based company is awaited.Eternal shares fall; MSCI inflows in focus

Shares of Eternal were down around 3% at ₹318.15 on Monday and had touched their lowest level of the session.

The stock has gained about 31% over the past six months but remains below its 52-week high of ₹368.45.

Separately, Eternal is also in focus ahead of the MSCI index rebalancing scheduled to take place during the closing minutes of Monday’s trading session.

The company’s weight in the MSCI Standard Index is expected to increase, potentially resulting in inflows of around $650 million.

Laurus Labs, Lenskart Solutions, Adani Energy Solutions and Billionbrains Garage Ventures, the parent of Groww, are also set to be added to the MSCI Standard Index as part of the rebalancing.



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