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Snapdeal plans to reduce monthly salary bills by 60%

Snapdeal plans to reduce monthly salary bills by 60%

Friday, February 24, 2017, 11:36 AM

E-commerce firm Snapdeal, plans to reduce its monthly salary outgo to Rs 20 crores from about Rs 48 crores. The retrenchment could see over 2,500 of 4,300 odd employees, losing their jobs. A majority of the people who are being let go include senior directors, directors and manager level employees. Every team head has been asked to downsize their team by 40-50%.
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