Snapdeal Will Roll Out 15% Pay Hike of Employees Amid Sell-off
E-commerce major Snapdeal will shell out an average pay hike of 12-15 percent as it looks to assure employees amid the online marketplace scouting for a potential buyer.
According to sources, the pay revision will be effective from April 1 and will see salaries of employees at the mid and junior-level go up by an average 12-15 percent.
For senior management, the hike will be 9-12 percent, but the company may offer 20-25 percent raise to exceptional performers, they added.
The cash-strapped company is also believed to be distributing nearly 1 percent of its stock to about 150 employees.
Earlier this year, the company's founders had admitted to have made mistakes and said they would take a "100 percent cut" in their own salaries.
The decision to give such a good pay hike has b...