This is what Snapdeal founders told their staff amid downsizing

Amid looming uncertainties, Snapdeal co-founders Kunal Bahl and Rohit Bansal sent out an e-mail to employees saying the current phase is an "inflection point" for the company. They also asked the teams to take tough decisions in its pursuit of profitability.

Reportedly, the communication, from Bahl and Bansal, comes at a time when Snapdeal is downsizing and shutting its non-core businesses so as to conserve cash and extend its runway as fresh funding has been hard to come by.

Recently, the company announced the closure of its consumer-to-consumer marketplace Shopo last week and now the e-tailer has now disbanded its SD Instant team.

Launched across Delhi, Mumbai and Bengaluru to deliver FMCG and daily essential goods, the service is now only operational in Gurgaon.

Snapdeal's cost-cutting drive has coincided with a string of senior level exits. The latest being Amit Maheshwari, fashion head of Snapdeal, who had been elevated as the CEO of Exclusively, the e-tailer's premium and luxury fashion goods platform, which was shuttered last year.

Maheshwari has left the company after a four-year stint, sources aware of the development told TOI. He joins other old-timers who have recently quit including Tony Navin, Sandeep Komaravelly and Abhishek Kumar