After the exuberance, job cuts seems to have arrived at India’s e-commerce startups. Indian e-tail giant Flipkart is cutting 700-1000 jobs citing poor performance. However, the move is not unique to the company. Earlier this month, there were reports that Flipkart rival Snapdeal is planning to cut jobs.
India’s startup poster boy Flipkart is cutting jobs. Flipkart is offering employees who have failed to meet professional expectations the choice to either resign or be sent off with severance pay, according to three people directly aware of the development at India’s largest online retailer.
In March, real estate website CommonFloor laid off about 100 employees, two months after it was acquired by Warburg Pincus- and Tiger Global-backed Quikr.
SoftBank-backed grocery delivery service Grofers is laid off 10% of its workforce and revoked 67 campus job offers in June this year. Grofers co-founder and CEO Albinder Dhindsa has confirmed the same to ET.
In April, Snapdeal-backed PepperTap shut down its grocery delivery operations and announced its decision to instead focus on expanding its logistics business.
According to a report in financial daily Business Standard, AskMe saw resignations of some 650 people across its 40 offices in April this year. Most of the employees who were let go were reportedly in the salary bracket of Rs 2.5 lakh-Rs 6 lakh.
In December last year, Rocket Internet-backed Foodpanda India laid off more than 300 employees. The layoffs reportedly covered all business segments — sales, marketing, vendor service, customer delight, business intelligence, automation, on-boarding and an in-house call centre.
In November 2015, realty portal Housing.com announced its decision to restructure its business to focus only on buying and selling of apartments, and also reduce its employee strength.
In April, Girnar Software, the owner of auto classified portals including CarDekho.com, reportedly sacked 60 employees. The layoffs are said to be an effort to better streamline management and resources to core focus areas.
(Sourced from agencies, Feature image courtesy:novelwebcreation.com)
