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Under pressure, India's Snapdeal woos staff with promises of profit

Under pressure, India's Snapdeal woos staff with promises of profit

Tuesday, April 4, 2017, 11:17 AM

Seeking to calm employees rattled by reports of a cash crunch, the founders of Indian online retailer Snapdeal have gone directly to them with a string of town hall meetings in past weeks, according to sources, promising profit and brushing off takeover talk. Like most e-commerce players in India, Snapdeal is burning cash to sustain discounts and keep customers in a cut-throat online market.
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