Indian e-commerce company Snapdeal plans to terminate its employees from the company. This major step had been taken in search of profitability to the company.
However, the founders of Snapdeal Kunal Bahl and Rohit Bansal have pledged a 100% pay cut– they have decided not to take their salaries.
According to reports, the company has decided to lay off as many as 600 employees from its workforce as a part of cost-cutting.
A Snapdeal spokesperson said: “On our journey towards becoming India’s profitable e-commerce company, there must be a realignment of the resources and teams to drive high-quality business growth.”
The management had also sent some internal confidential emails stating that the founders Kunal Bahl and Rohit Bansal had decided to take a 100% salary cut.
The mail says: “we believe that every resource of the company should be deployed for driving us towards profitable growth. Both Rohit and I (Kunal) are taking 100% salary cut. And sadly we will also be saying goodbyes to some of our colleagues in this process. This is far the hardest ever decision taken in our lives.”