Snapdeal to fire 600 employees; Founders take 100% pay cut
Homegrown e-commerce major Snapdeal on Wednesday said it is laying off up to 600 employees in the next few days across levels. The layoffs will affect employees at Snapdeal's e-commerce unit, logistics subsidiary Vulcan Express and Snapdeal-owned recharge platform FreeCharge. Furthermore, Snapdeal founders Kunal Bahl and Rohit Bansal have pledged not to take any salary for an unspecified period.