Snapdeal has started down-sizing. 600 employees have already been fired
Advertisement
Advertisement
Advertisement
Days after the founders of Employees handed out the payslips have been assured of some arrears based on their salary structure. Most of the employees already asked to quit are among the team leads and managerial ranks who have been assured a 3-month severance package. While the ones in the director ranks would be granted a 6-month severance package, a recent investigation conducted by The
This firing would continue all through March, an insider told the ET. While fashion and electronics are two major revenue generator for the ecommerce company, people from these sections have been worst affected. People from data entry functions have also been fired in large numbers. As per the sources of the ET, no extra people are being taken on board and the present employees are asked to carry out their functions.
While Snapdeal claims they have set up committees to ensure the affected employees get an alternative job, this doesn’t seem to change the mood the employees who are worried about their future. Neither has the founders not taking salaries made any impact to them.
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Markets extend gains for 5th session; Sensex revisits 74k
- Top 10 tourist places to visit in Darjeeling in 2024
- India's forex reserves sufficient to cover 11 months of projected imports
- ITC plans to open more hotels overseas: CMD Sanjiv Puri
- 7 Indian dishes that are extremely rich in calcium