The online market is facing drastic slow growth now a day. Due to this Snapdeal plan to fire 30% staff in two months. Indian eCommerce industry is the battle with slow growth and the small number of the investor to invest.
1000's of employees are expected to affect by this move. The company executive said, "5,000-odd contract staff employed by the company's logistics subsidiary Vulcan Express will be pared down as well as about 3,000 people on the rolls of the logistics company".
The process started in early February.In Feb 2016, the Snapdeal operator which own by Jasper, last increase in the fund at a valuation of $6.5 billion.
The spokesperson of SoftBank finance Snapdeal said, "the company will continue to assess resource allocation" in response to the query.The company did not respond to specific query on the plan to lay off employees.
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