Rumors are circulating that the Snapdeal online market once again fired employees. This time, the figure represents up to 65% of the company’s workforce. Is Snapdeal laying off 2,500 people? Unicon Baba, an anonymous Twitter user who deals with news within the startup world, told videosix after we approached his tweet on Friday morning. However, we can not verify this. Snapdeal did not respond to videoixixie’s email when publishing the story. [Update: Snapdeal’s spokesman responded with the following statement: “The recent media report on job cuts at Snapdeal is Especially, the number of “Anonymous sources” cited in the report, describes a distorted interpretation of our continuous efforts It is imperative that we continue to promote the efficiency of our business, which allows us to offer value to our consumers and sellers and sellers while promoting growth high quality “.] However, many sources have indicated that the number of employees dismissed is more than 1,000. And it will happen before the end of the financial year. So, in March, will Snapdeal be half the size? Late last year, reports surfaced that Snapdeal had fired 150 people at its Bengaluru office in a move to reduce losses by reducing costs in the field. Infrastructure in regional offices. But both CEO Kunal Bahl and co-founder Rohit Bansal dismissed the reports. In fact, Snapdeal has recently opened a striking new office in Bangalore. A report in the Economic Times has reported that 5,000 employees of retail contracts are the logistics of Snapdealare. The logistics of Vulcan Express will be reduced, as well as approximately 3,000 people in the post-company role. need The report adds that managers in market operations have been asked to match the size. their respective groups. But “sizingn” is just a covered term to reduce the size. If you want to grow 200% each year, you will grow the team appropriately. Only 20 percent growth, you have to cut the staff. A source of knowledge about the developments that were presented to videosix: Snapdeal did not have the desired growth rate. Snapdeal may also transfer part of its workforce to third parties. A number of senior Snapdealare executives left the company in the last two months. “The departure of Sandeep Komaravelly, senior vice president of Snapdealare c2c marketo Shopo, last month. Last week, within two years of its release, although Snapdeal did not disclose the fate of the Shopoare 200 staff, the rumors seemed to give an explanation. The expert knows the development of videosix that a variety of Shopo employees have been absorbed by the FreeCharge digital payment platform It is no secret that Snapdeal is going through a serious financial crisis, “although it raised $ 200 million a year ago. Although Kunal has stated that Snapdeal is not looking for money at this time, media reports have claimed that the company owned by Jasper Infotech is seeking financing at a lower valuation. When they earned $ 200 million a year ago, Snapdeal was worth $ 6.5 billion. A few days ago, “Biggest Investors Snapdealare” of SoftBank wrote approximately $ 475 million in total value of its shares in Snapdeal and the synthesis of Ola taxis. They are two of Japan’s largest investors investing in India. Interestingly, SoftBankre’s other investment in India, “the last residential housing market of PropTiger merged with PropTiger last month also delivered 200 employees, supposedly first more to your publications mergers. They reported two months of salary for the dismissed, according to media reports. But industry observers have seen this. You do not want to maintain a workforce for similar functions in both companies. With PropTiger, would it happen as with any acquisition? says a specialist. Problems in paradise? With the Myntra-Jabong alliance, the big changes are taking place. “Gunjan Soni, Chief Marketing Officer of Myntraare, will now be Chief, Jabong A statement by Myntra says that Gunjan, who was previously a partner of McKinsey Company and vice president of Star India will now focus on Jabong’s strategic direction and drive growth and profitability for business, Gunjan Soni, CMO, Myntra will now be Chief, Jabong Myntraare co-founder, Ashutosh Lawania, finally left the company to start his own According to Myntraare, he is responsible for the management of the supply chain, which has now been handed over to Manpreet Ratia, former human resources director and director of the New Initiative, before which Manpreet was Managing Director at Amazon India. , Naresh Krishnaswamy, who has worked with Myntra since 2012 and led the growth and sales, has risen to senior management. The companies of the company The phase is also called “the correct size, n”. The only difference is that it is not widely reported as when LT holders dismissed some 14,000 employees between April and September 2016. But it was only reported in November. LT is a conglomerate, even 1% shot thousands. They are more structured in this process “they will leave people voluntarily and involuntarily”. The last four years have seen rapid growth for Internet companies such as Snapdeal. Now they turn to profitability. “Moving away from growth will inevitably lead to cost cuts and group cuts, similar to the case of Ola, where top executives are quitting almost daily. Snapdeal is still” likely to be acquired by Alibaba ” Before the acquisition, normally, the company wanted to show size gains “as part of its cost reduction exercise” if it is not profitable, at least reduce losses. In summary, 2017 seems like a stage .
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