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Wednesday, 22 February 2017

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Snapdeal Founders Kunal, Rohit Take 100 Per Cent Salary Cut Special News Report by Archana Singh: The company had last reported an employee strength of 8,000 people. Snapdeal is locked in an intense battle with rivals Amazon and Flipkart.
while many others at the firm have “proactively” offered significant reduction in compensation.
The SoftBank-backed firm, which has been struggling to raise fresh funding, is also laying off hundreds employees and eliminating non-core projects to focus on “profitable growth”.

In an e-mail to employees, Bahl conceded that over the last 2-3 years, with all the capital coming into this market, the company and the entire industry “started making mistakes”.
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