Snapdeal Founders Salary Cut

Snapdeal, the third-largest e-commerce player in India, will lay-off about 600 employees from the company including from its logistics (Vulcan) and payments (Freecharge) divisions over the next few days. In an email to employees on Wednesday, company co-founders Kunal Bahl and Rohit Bansal ceded that they had 'made mistakes' and said they won't dra...

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".

Snapdeal, the third-largest e-commerce player in India, will lay-off about 600 employees from the company including from its logistics (Vulcan) and payments (Freecharge) divisions over the next few days. In an email to employees on Wednesday, company co-founders Kunal Bahl and Rohit Bansal ceded that they had 'made mistakes' and said they won't dra...

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".