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Jabong to Lay Off Another 200 People in Three Months

19Nov By Gauri SinghNo Comments

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Jabong to Lay Off Another 200 People in Three Months

The Myntra Jabong merger has been a setback to its employees as this led to the lay off of so many workers. And now, Myntra could sack another 200 staff at Jabong in the next three months after deciding to lay off around 250 employees. Myntra’s chief executive Ananth Narayanan stated that about 250 jobs will be lost as Myntra and Jabong are combining functions from finance, technology, marketing and creative teams among others departments. Also, a source mentioned that Jabong employs around 600 people. “Myntra and Jabong will now fully integrate all the remaining functions including technology, marketing, category, revenue, finance and creative teams,” a Myntra spokesperson said in a statement. “To remain the leader in fashion e-commerce in India, we have to find ways to operate mor...

Tech In Asia Lays Off Employees After Scrapping Planned ICO

Singapore-based media startup Tech In Asia lately announced an $18 per month paywall and the subscription went live this week. This was built to make the business self-sustaining after a tricky period of business in which the company observed an ICO and was forced to lay off its staff. The company made cutbacks of s many as one-third of its team after it went back on a plan to raise money from an ICO. It was in July that the company canceled its ICO plans and fired 18 of its 60 employees in Singapore. “Our goal is to give Tech In Asia back into the hands of the community and harness community forces to bring us closer to our mission of building and serving Asia’s tech communities,” the company stated. Most of the layoffs were in non-editorial business lines such as the company’s jobs ...

RBS to Cut Over 400 Jobs in UK, Move Many of Them to India

British lender Royal Bank of Scotland said today that it is cutting 443 UK jobs dealing with business loans, and plans to shift many of the roles to India. The UKs largest government-owned bank said it was moving the jobs, which help handle loans for small businesses, as part of an ongoing cost-cutting drive. "As we become a simpler, smaller bank, we are making some changes to the way we serve our customers. Unfortunately, these changes will result in the net reduction of 443 roles in the UK," a spokesperson for the bank said. The bank said it would support staff affected by the "disappointing news", including by moving them into new roles where possible. Workers union Unite said British workers and taxpayers would lose out from the move. "By shipping these jobs to India, RB...