Ecommerce marketplace Snapdeal is laying off close to 600 people within the company’s logistics unit Vulcan Express, and in its payments division FreeCharge, according to this PTI report. A spokesperson from Snapdeal confirmed the development with MediaNama but did not comment on the number of people being laid off. The spokesperson added that employees will be given a three-month severance pay and that its offices in Gurgaon (where Vulcan operates from) and Bangalore (FreeCharge) will be affected due to the layoffs. The PTI report said that the company had initiated restructuring process last week and that employees from different levels of management would be affected. Snapdeal said in a statement that it is “rationalizing part of its workforce on its journey to become India’s first profitable e-commerce company in two years”. The company added that it will “realign its resources (in logistics, payments) to become a leaner and more efficient business.” Layoffs at Snapdeal comes at a time when the company is going through a rather rough phase with internal management shuffles, multiple top-level exits, and phasing out of subsidiary units. Earlier this month, Snapdeal shut down its C2C handicrafts marketplace Shopo. Last year, it merged Exclusively.in, a luxury fashion store it had acquired in 2015. The Exclusively.in website was discontinued and does not accept orders from users, but the brand name remains intact. Management shuffle and exits On Wednesday, FreeCharge’s CEO Govind Rajan quit the company after being appointed to the role in May 2016. Last month, Snapdeal appointed Housing’s CEO Jason Kothari…
- RBI increases UPI and recurring transaction limits for certain categories December 8, 2023
- The Quantum Hub discusses concerns on age verification and children’s data processing under India’s data protection law December 8, 2023
- India’s central bank to set up cloud facility for financial sector December 8, 2023
- Navigating the Complexities of Open Source AI: Insights from Carnegie India Summit December 8, 2023
- Supreme Court Dismisses Plea by Foundation for Media Professionals on Internet Shutdowns December 8, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Straw man fallacy: IT Ministers’ defence of government exemptions in data protection law misses the point
Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...
The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
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...
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...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
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...