911—The number that spooked Snapdeal

Snapdeal-Boxes_feOn Wednesday, Snapdeal founders Kunal Bahl and Rohit Bansal said they will not take salaries for an undisclosed period as the company struggles to survive. Well, that makes financial and ethical sense. It’s ethically right because it takes a large heart to admit mistakes and share the pain of employees, many of whom are losing […]

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Snapdeal sellers knock govt’s doors as e-tailer struggles

SnapdealA group of sellers on online marketplace Snapdeal has approached commerce minister Nirmala Sitharaman to protect their interests as the company’s troubles mount. The All India Online Vendor Association (AIOVA), an industry group set up to safeguard sellers’ welfare, said in a letter to Sitharaman it was afraid that Snapdeal may default on payments to […]

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Snapdeal layoffs: In the works for months, but kept out of employees’ sight

Snapdeal_by-Junaid2For employees of India’s third-largest e-commerce firm Snapdeal, the last couple of weeks have been stressful, to put it mildly. The tension is palpable, with the HR calling everyone for a one-on-one session, a meeting that will decide whether they are headed towards the exit door or will manage to hold on to their job. […]

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Snapdeal to lay off 600; founders forego salary

Jasper Infotech Pvt. Ltd, which runs Snapdeal, has decided to lay off 500-600 employees across the e-commerce marketplace and its subsidiaries, mobile wallet Freecharge and logistics wing Vulcan Express, a person aware of the development told Techcircle. The person added that the process of lay-offs has already started and will continue for “the next few […]

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Why a potential Snapdeal-Paytm merger makes perfect sense

For-MoEngage-Story-TC_ThinkstockPhotos-497374711_feWill they? Won’t they? Rumours come and go, but those around India’s third-largest e-commerce company Snapdeal’s merger refuse to die down, even though the suitors keep changing. For instance, not too long ago, the Jasper Infotech Pvt. Ltd-run company was in the news for exploring a potential merger with India’s biggest e-commerce player Flipkart. This […]

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Flipkart has no plans to cut jobs, says COO Nitin Seth

VCCircle_Flipkart8Flipkart’s chief operating officer Nitin Seth has allayed fears that employee rationalisation, which has been rearing its head in the country’s e-commerce sector, will engulf the company as well. “We had to go through that phase last year but with the growth we saw in the last quarter and January, and with February shaping up […]

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Snapdeal’s cost cutting continues, disbands SD Instant team

Snapdeal's cost cutting continues, disbands SD Instant teamAfter reports of Snapdeal laying off nearly 30% of its staff, co-founders Kunal Bahl and Rohit Bansal have sent out an e-mail to the e-commerce firm’s employees stating that the company has to take tough decisions in order to become profitable, a report in a national daily stated. Snapdeal has also dissolved its SD Instant […]

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Snapdeal to lay off 30% of its workforce

layoffstock-by-shah-junaid-(33)_feE-commerce firm Snapdeal, operated by Jasper Infotech Pvt. Ltd, plans to lay off almost 1,000 employees, which comprises 30% of its workforce, as it looks to reduce mounting losses, a financial daily reported on Saturday citing four people aware of the development. About 5,000 contract and 3,000 on-roll employees from Snapdeal’s logistics subsidiary Vulcan Express […]

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Two more senior execs leave Flipkart

flipkartIndia’s largest e-commerce marketplace Flipkart has suffered another bout of senior-level exits at its engineering team, a national daily reported on Friday. Citing unnamed people aware of the development, The Times of India reported that Ashish Gupta, vice president, engineering, and Ashish Vikram, vice president, engineering (ad and big data) are leaving the firm. Gupta, […]

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Forrester trims India e-tail market estimate on note ban, regulatory woes

e-commerce_feUS-based market research company Forrester Research has cut the size of India’s online retail market by 36%, saying it will touch $48 billion by 2020. Last year, the firm estimated the sector to reach $75 billion by 2020. The retail market shrunk due to demonetisation, restrictions on e-commerce, slowdown in investments and fewer buyers, a […]

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