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After confirming layoffs, Snapdeal founders to take 100% salary cut

After confirming layoffs, Snapdeal founders to take 100% salary cut

Thursday, February 23, 2017, 10:35 AM

Snapdeal says it would layoff employees as part of its efforts to turn profitable, even as its founders admitted to “errors in execution” and pledged not to take a salary. Co-founders said that many of the company’s leaders had also offered to take significant salary cut. Employees will have the option to leave voluntarily and avail of a severance package of three months’ salary.
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