29 July,2016 03:07 PM IST | | mid-day online correspondent
Flipkart, India's largest e-commerce company have announced lay-offs on Friday days after revealing that it is buying fashion site Jabong for Rs 471 crore
Flipkart, India's largest e-commerce company have announced lay-offs on Friday days after revealing that it is buying fashion site Jabong for 70 million dollars.
A company statement said that it is asking under-performers to leave but has not confirmed on how many people it will give the pink slip.
The move may impact 700-1000 people.
E-commerce companies in India are facing greater competition from both domestic rivals mainly being Amazon.com Inc.
Earlier e-tailer Flipkart-owned Myntra announced acquiring e-store Jabong from its London-based owners Global Fashion Group (GFG) for $70 million (Rs 471 crore) to consolidate its position in the fashion and lifestyle segment both operate in.
Flipkart deals with mobiles, electronics, appliances, lifestyle and wide range of original products with cash on delivery and free shipping options.
