wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

E-Commerce Restructuring At Web18; Some Execs Asked To Leave

logo-network18

Update: Surya Mantha, CEO of Web18 has informed MediaNama that “We have entered into a strategic relationship with HomeShop18, and and we do not our fulfilment function, which has become reduntant. We are actively hiring people at senior, mid and junior levels, and that is a part of normal operations. We have beefed up our marketing team, our technology team. There is no such thing as layoffs currently taking place at Web18. Getting new people on board and asking low-performers to leave is a part of on-going operations. This is not related in any way to the TV18 restructuring. There is no plan for more people to be asked to leave by the end of the month.”

Earlier: Web18, the Internet and mobility arm of TV18, a subsidiary of the Network18 Group, has axed around 27 jobs and the count could increase to 50-60 by the month end, according to current and laid off employees at the firm to whom MediaNama spoke (please check update above). Web18 runs portals including Tech2.com, In.com, BizTech2.com, CompareIndia, Indiwo, Buzz18, Mobile18 and print division Infomedia18.

A laid off Web18 employee, on the condition of anonymity, told us that the severance pay on offer was 2 months’ salary. Two other employees we spoke to were asked to leave on Thursday, December 3rd, 2009, and were offered the same severance pay. Employees are being told that they’re being laid off due to the financial crisis or non-performance.

Web18 CEO Surya Mantha refused to confirm specifics of layoffs (we’ve compiled the information we’ve received below; please check update above) but told MediaNama that it was strictly performance related. “It is part of ongoing operational matters, there’s nothing special about it. As a business operation, we reward performers too, in fact we hired a new person for a top position just today,” he said. He would not disclose the numbers of employees hired and fired over the last year, saying that the company is not a publicly listed entity.

According to those with whom we spoke, more employees are expected to be laid off by December end, and the total tally is expected to be 50-60 in all. Note that employee appraisals were scheduled for the month end.

Advertisement. Scroll to continue reading.

Division-wise Lay Offs:

Please note that when we shared some of these numbers below with Mantha, he declined to comment further, neither confirming nor denying them. (Please check update above). Speaking to multiple sources, the following is a division-wise indicative compilation of the layoffs that have taken place so far:

  • Tech2.com: Four were asked to leave.
  • In.com – four people were asked to leave.
  • Shop.In.com (previously called StoreGuru) – Six employees were sent packing. “All of a sudden, e-commerce is totally shut, and saying that due to non-performance they are removing people,” said an employee. Shop.In.com is likely to be replaced by Homeshop18.com.
  • IBNLive.com: Two people were asked to leave from the Delhi team.
  • BizTech2.com – One employee.
  • Mobile18 – Only two employees are left in the division.
  • CompareIndia.com – Two of three were asked to leave.
  • Buzz18.com – Four were laid off. Buzz18.com and Indiwo.com are on a skeleton staff, and might be integrated with IBNLive.
  • Written By

    http://www.linkedin.com/in/preethij

    MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

    Views

    News

    The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

    News

    When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

    News

    The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

    News

    In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

    News

    By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

    You May Also Like

    News

    Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

    News

    By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

    Advert

    135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

    News

    Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

    MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

    © 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

    Subscribe to our daily newsletter
    Name:*
    Your email address:*
    *
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide

    © 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ