Sunday, November 18, 2018

Jabong to lay off 75% of employees to combine with Myntra

Flipkart-owned online fashion portal Jabong is planning to keep only 25 per cent of employees out of its current strength, which is reportedly around 600 as a part of the integration process with Myntra.
It could fire an additional 200 of its employees in the next three months, said ET report quoting sources close to the development. Gurugram-based firm’s employees are also reported to move to Bengaluru.
Last Friday, Myntra’s chief executive Ananth Narayanan had announced that about 250 employees would lose their jobs as Myntra and Jabong are combining functions from finance, technology, marketing and creative teams among others departments. Narayanan had also dismissed the reports that he was leaving Myntra following Binny Bansal resignation.
According to Myntra spokesperson, both the fashion portals will fully integrate its all functioning and try to work more innovatively to remain a leader in the fashion segment. 

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