Jabong plans to laid off 200+ more staff in next three months
Myntra could sack another 200 staff at Jabong in the next three months after deciding to lay off around 250 employees as part of combining process of various functions of Jabong with Myntra, a person familiar with the plans said.
Sources said Jabong held a townhall on Friday in jabong’s headquarters in Gurugram to discuss the restructuring, Chief executive of Myntra’s said that about 200 jobs will be lost as Myntra and Jabong are combining his all finance, technology, marketing and creative team among other departments and about 8-9% of the total workforce of about 1,500 at Myntra Jabong were laid off
“Myntra and Jabong, the fashion retail portals of the country’s top ecommerce firm Flipkart, now decided to combining all the remaining functions including technology, revenue, finance, marketing, category and creative team,” a Myntra spokesperson said in his emailed statement. To remain the top leader in fashion e-commerce industry in India management says we have to find ways to operate more effectively and innovate more quickly, but they did not says anything about the issue of losing another 250 will be eliminated at Jabong.
Jabong was acquired by Myntra for $70 million in July 2016, subsidiary of Flipkart . Myntra had always maintained that Jabong will be continue to operate separately business. Jabong is most popular online fashion portal among women and the brand is stronger in the important National Capital Region.
Myntra chief executive Ananth Narayanan will continue to lead the team, the company said on Friday.
Last week, Myntra’s CEO Narayanan, who earlier reported to Flipkart’s Group CEO Bansal but after Binny Bansal resigns due to allegations of personal misconduct was made to report to Flipkart’s CEO Kalyan Krishnamurthy. Then on Friday 250 job layoffs announced at the Jabong town hall.
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