Snapdeal has started down-sizing. 600 employees have already been fired
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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.
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