Snapdeal to Lay Off 600 People Over Next Few Days
SoftBank-backed Snapdeal will lay off around 600 people across its e-commerce, logistics and payments operations over the next few days.
According to sources, the company started the process last week and will lay off 500-600 people across Snapdeal, Vulcan (logistics) and Freecharge (digital payments business).
The sources added that the reduction will include employees across levels and the process will be completed in the next few days.
A Snapdeal spokesperson said, "On our journey towards becoming India's first profitable e-commerce company in two years, it is important that we continue to drive efficiency across all parts of our business, which enables us to pass on the value to our consumers and sellers." "We have realigned our resources and teams to further these goals and d...