Swiggy Announces $65 Mn Esop Buyback to Reward Employee Ownership

Swiggy has announced its fifth employee stock ownership plan (Esop) buyback, totaling $65 million across various levels. This move marks a cumulative Esop liquidity of over Rs 1,000 crore across five events, benefiting more than 3,200 employees.

Girish Menon, head of HR at Swiggy highlighted, "Employees owning shares of their company creates alignment of incentives and a sharp focus on collaborative excellence, which is a virtuous cycle that we believe in and espouse." He further emphasized that the Esop event reflects Swiggy's commitment to recognizing employee contributions and sharing its success and growth.

This buyback underscores Swiggy's ongoing efforts to incentivize and retain talent through ownership opportunities, reinforcing its commitment to fostering a culture of mutual success and engagement.