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A performance improvement plan for 200 employees in February this year followed by <a href="http://www.businessinsider.in/Anand-Chandrasekaran-looking-to-launch-own-startup-quits-Snapdeal/articleshow/52419666.cms">a string of resignations by top executives</a> recently - the sudden unrest brewing inside <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> certainly shows not all is well within the company. 
 
Further validating this, credible sources from within Snapdeal have now confirmed to Business Insider that it is likely to show the door to several of its employees soon. The news has spread within the nooks and corners inside the company, and several employees who we got in touch with, say they are not happy with the way things have been unfolding in the past few months. 
 
Sources tell us that a layoff plan is certain, but it's still not clear as to how many employees could be asked to leave and by when. 
 
However, unlike February when <a href="http://www.businessinsider.in/5-things-that-went-wrong-with-Flipkart-and-Snapdeal/articleshow/52122723.cms">Snapdeal</a> put 200 employees on a performance improvement plan which forced several to quit, but the company washed its hands off saying they didn't sack anyone, sources say, this time around there will be no cover for them to take shield under because Snapdeal is looking at undertaking massive layoffs any time this year. 
 Even as several reasons are being speculated for mulling to take this extreme step, as per sources, the Gurgaon-based company reportedly is wanting to cut costs, and therefore cracking the whip on its poor performers. It’s also being said that it is finding itself under tremendous pressure to keep its lead in the online marketplace segment where it's facing stiff competition from its rivals <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> and Flipkart India. 
 
Meanwhile a spokesperson from Snapdeal said:“There have been no layoffs. Snapdeal believes in capital efficient, impactful growth and is engaged in building long term capabilities that create substantial differentiation. With this focus, Snapdeal has built a vibrant and meritocratic organization run by highly committed teams aligned with its objective to build India’s most reliable and frictionless commerce ecosystem. We continue to hire across levels and functions as per our talent requirements and we are currently in the process of adding 350 members to our engineering and product teams.” 
 
(Image: Thinkstock)

Snapdeal to lay-off employees
soon, confirms company sources

The Indian e-commerce giant <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> has issued a notice to its consumer service department, asking 200 members to either shape up or ship out. 
 
Owing to the almost impossible demands of the company's performance improvement plan, most employees are opting for the second option, said several people aware of the matter. 
 
"The process is still on and nearly 70 have been called in till now (Wednesday)," one of the 100 employees summoned by the HR department told ET. 
 
In December last year, 150 employees were asked to quit the company. 
 
"Last trimester, which ended in November, employees were asked to leave in December. This time, before the end of this trimester, which is March, they are asking us to leave," said one person. "In April 2015, we had close to 1,000 employees. Now we have around 500, of which 200 employees are being asked to leave." 
 
The options given to employees are choosing between resigning or going on the performance plan, for which they would be given a month's time to meet targets, failing which they will be terminated. 
 
However, the company denied that it was sacking majority of its teams. 
 
"There have been no firings or layoffs at Snapdeal," a spokesperson said in response to ET’s query. "Some employees at our Contact Centre, who were not meeting the required performance parameters have been offered a Performance Improvement Plan, which offers such employees 30 days to improve their performance. Some of the employees have chosen not to go through the Performance Improvement Plan and have instead opted to exit. In deference to their wishes, Snapdeal has accepted their resignations. The PIP process is expected to 
cover about 200 team members." 
 
<a href="http://cdn2.thegrindstone.com/wp-content/uploads/2012/08/shutterstock_66384196.jpg">Image source</a>

Snapdeal asks 200 employees to shape up or ship out; employees choosing latter over ‘impossible’ targets

Indian job sector is marred with the fear of layoffs because of cash crunch or increasing automation, which has resulted in a major rise in the number of resumes on hiring platforms. 
 
Applications from people from IT and <a href="http://www.businessinsider.in/Indian-e-commerce-market-is-slowing-down/articleshow/52940196.cms">e-commerce</a> industries have increased by 20-25%, as per Lohit Bhatia, business head, staffing solutions, IKYA Human Capital Solutions. 
 
"It's happening at firms where the management is either reducing workforce or rationalising the headcount to balance demand and supply," Bhatia told ET. 
 
Last year, there were about 9,200 employee layoffs, a lot more than about 5,500 in 2015, says research platform Xeler8. Major industries that saw these layoffs were food delivery, e-commerce and consumer services companies. 
 
Also read: <a href="http://www.businessinsider.in/indias-manufacturing-sales-shrink-expect-more-layoffs/articleshow/57376642.cms">India's manufacturing sales shrink. Expect more layoffs</a> 
 <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, the e-commerce major, is also <a href="http://www.businessinsider.in/snapdeal-has-started-down-sizing-600-employees-have-already-been-fired/articleshow/57343065.cms">firing employees</a> because of cash crunch, as reported earlier. 
 
While on one side job seekers are knocking on the doors of these platforms, employers are increasingly withdrawing. Online recruitment activity in e-commerce stumbled from 3% in December 2016 to a negative 3% in January 2017, says Monster. Month-on-month, there has been a 4% decline in hiring activity. 
 
Also read: <a href="http://www.businessinsider.in/telecom-industry-is-going-to-witness-massive-layoffs-over-25000-pink-slips-loom/articleshow/57161647.cms">Telecom industry is going to witness massive layoffs; over 25,000 pink slips loom</a> 
 
A major change has come in the Indian IT sector because of automation, artificial intelligence and machine learning, and as a result, Indian techies are more and more <a href="http://www.businessinsider.in/possible-restructuring-poses-threats-to-mid-level-employees-in-indian-it-sector/articleshow/57512270.cms">worried about their jobs</a>. 
 However, things are not as bad in the e-commerce space, with <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> planning to hire 20-30% more people in 2017 compared to 2016, and Paytm founder Viay Shekhar Sharma announcing vacancies in tech and product space. 
 
(Image source: LinkedIn)

Layoffs jeopardize job security; resumes flooding hiring platforms

<a href="http://www.businessinsider.in/searchresult.cms?query=startups&amp;sortorder=effectivedate">Startups</a> are going through a tough time. They are in news for all the wrong reasons, especially because they have been on a firing spree since the year 2017 has begun. 
 
As investors are <a href="http://www.businessinsider.in/searchresult.cms?query=funding&amp;sortorder=effectivedate">tightening their purse strings </a>and startups are now focussing on revamping operations and making profits, startups are targeting employees and cutting the workforce. 
 
In 2017, many small businesses such as <a href="http://www.businessinsider.in/searchresult.cms?query=yepme&amp;sortorder=effectivedate">YepMe</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=craftsvilla&amp;sortorder=effectivedate">Craftsvilla</a>, etc have been giving their employees nightmares, who are worrying over pink slips. 
 
The scenario at India’s third online marketplace <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate">Snapdeal</a> is also not good as it has fired over 600 employees so far. 
 
The companies are looking to trim costs and employees are staring at <a href="http://www.businessinsider.in/searchresult.cms?query=lay-offs&amp;sortorder=effectivedate">job cuts</a>. 
 
Here are 5 companies that have massively laid-off employees

5
companies that fired employees in 2017

India’s online market place <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate">Snapdeal </a>laid-off 600 employees recently and warned the co-founders employees for more tough decisions. Well, <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> is not along in <a href="http://www.businessinsider.in/searchresult.cms?query=layoffs&amp;sortorder=effectivedate">firing its employees</a> as more<a href="http://www.businessinsider.in/searchresult.cms?query=startups&amp;sortorder=effectivedate"> Indian startups </a>are handing out pink slips to hundreds. 
 
The fear of being fired is looming large on employees as many startups have begun giving notices to workers to trim costs, save money and make profits. 
 Apart from Snapdeal, other <keyword id="982553" type="UNKNOWN" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> such as <a href="http://www.businessinsider.in/searchresult.cms?query=craftsvilla&amp;sortorder=effectivedate">Craftsvilla</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=yepme&amp;sortorder=effectivedate">YepMe</a>, Tolexo, etc have laid-off employees recently. 
 "(<keyword id="635221" type="UNKNOWN" weightage="20" keywordseo="Craftsvilla">Craftsvilla</keyword>) has laid off more than 100 staffers in recent weeks, including its entire product and technology teams and most of its operations and marketing teams,” a former senior executive of the company told ET. 
 
In fact, some senior employees aware of the coming troubles had put in their papers a couple of months ago, sources told ET. 
 
Industry experts say the lay-offs could be due to slowing funding, rash decisions by founders, etc. 
 "More (<keyword id="6357067" type="EVENT" weightage="20" keywordseo="layoffs">layoffs</keyword>) will happen throughout 2017. The cleanup has started and most consumer internet companies will go through this,” Harminder Sahni, managing director at consultancy Wazir Advisors, told ET. 
 "While we were preparing for the worst, we still had a little hope. But when it was clear the company was shutting, the main priority was to relocate the employees,” Ipe Walliaveetil, who was senior manager for operations at <keyword id="1112419" type="UNKNOWN" weightage="20" keywordseo="Stayzilla">Stayzilla</keyword>, told ET. 
 
Fashion retailer YepMe recently laid off an unspecified number of people from its warehousing and quality control teams. 
 
"We were planning to break-even in January. But demonetisation hit, (the option for cash payments on delivery) disappeared and sales were down. We decided to move our focus outside of India,” Vivek Gaur, founder of YepMe, which recently began operations in the United Kingdom, told ET.

Working for a startup? Your job is in danger

It is an atmosphere of chaos at <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate">Snapdeal </a>as the e-commerce player is taking several steps to rationalise its operations amid declining market share. 
 In the latest move, <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> is planning to cut salaries and bonuses by as much as 60%. Apart from <a href="http://www.businessinsider.in/small-business/companies/this-is-what-snapdeal-founders-told-their-staff-amid-downsizing/articleshow/57125704.cms">firing employees</a>, Snapdeal will also merge some of its categories such as<a href="http://www.businessinsider.in/searchresult.cms?query=mobiles&amp;sortorder=effectivedate"> mobiles</a>, electronics, etc. 
 
TOI quoted sources as saying the slash in salaries and bonuses come after they amounted to Rs 673 crore for the financial year 2015-16, compared to Rs 217 crore a year ago. 
 
One of the Snapdeal employees told TOI, “I think we will know by Friday or Monday about the job cuts." 
 
A few people TOI spoke to outside the e-commerce firm's office premises said, "We are aware of the layoffs but don't know the details". 
 
At its peak, the<a href="http://www.businessinsider.in/searchresult.cms?query=softbank&amp;sortorder=effectivedate"> </a><a href="http://www.businessinsider.in/searchresult.cms?query=softbank&amp;sortorder=effectivedate">SoftBank</a>-backed e-tailer had an employee strength of 8,000 as of August 2015, which the company aims to cut by more than 60%, sources told TOI. 
 
A Snapdeal spokesperson told TOI, "On our journey towards profitability, we continue to drive efficiency in all aspects of our business. As in the past, and like all efficient companies do, we will continue to assess resource allocation to further our goals of enhancing customer and seller experience while driving high quality growth."

Employees are panicking as Snapdeal looks to slash salary, bonus by 60%

<a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a> has started laying off employees and co-founders <a href="http://www.businessinsider.in/searchresult.cms?query=Kunal+Bahl&amp;sortorder=effectivedate">Kunal Bahl</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Rohit+Bansal&amp;sortorder=effectivedate">Rohit Bansal</a>, looking at the anxiousness of the staff, sent out a mail admitting they took several wrong decisions over the past two-three years amid a funding frenzy and that it was time to course-correct. 
 
Bahl also said that the co-founders will take a 100% salary cut. The co-founders had another email around 10 days ago, asking the employees to be ready for "tough decision". 
 
Reportedly, the company has laid off 250-300 people across the country in the first phase, a bulk of them at its headquarters in <a href="http://www.businessinsider.in/searchresult.cms?query=Gurgaon&amp;sortorder=effectivedate">Gurgaon</a>. 
 According to people with knowledge, the final number of layoffs could run up to 1,000 or more. A <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> spokesperson claimed the retrenchment number would be much lower - around 600, over the next few months. 
 
"We started growing the business before the right economic model and market fit was figured out. A large amount of capital with ambition can be a potent mix that drives a company to defocus from its core. We feel that happened to us. We started doing too many things, and all of us starting with myself and Rohit, are to blame for it," Bahl and Bansal wrote in their email. 
 
They also said from here on, Snapdeal would focus only on its core strengths and shut all non-core businesses in a bid to drastically cut cost. 
 
Amid tight security arrangements, Snapdeal employees at headquarters were asked to leave immediately, some of them told TOI. There are also unconfirmed reports of the company moving to a smaller office in Gurgaon.

Snapdeal founders admit to 'wrong moves', take 100% salary cut

<keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> CEO <keyword id="219793" type="PERSON" weightage="100" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> eased concerns among employees after <keyword id="6377963" type="UNKNOWN" weightage="20" keywordseo="Freecharge">FreeCharge</keyword>’s sale deal to <keyword id="6355975" type="CITY" weightage="100" keywordseo="Axis-Bank">Axis Bank</keyword>. Bahl wrote to his employees saying the sale would provide Snapdeal the necessary boost in resources to continue its e-commerce journey. Dismissing lay-off concerns, Bahl said Axis Bank intends to not just retain all Freecharge employees but also invest significantly in the team and brand. "Every new beginning comes from some other beginning's end. Building Freecharge has been a tremendously enriching experience for us. And now, it is time for us to focus our energy and passion on continuing the Snapdeal journey. They intend to retain entire team (and build on it), invest behind the brand and leverage the world class technology platform to the fullest," Bahl said. Snapdeal sold FreeCharge at 90% discount for Rs 385 crore. Snapdeal had bought FreeCharge for Rs 2,400 crore in 2015. In another mail, <keyword id="6504504" type="PERSON" weightage="20" keywordseo="Jason-Kothari">Jason Kothari</keyword>, the current CEO of FreeCharge, sought to assure employees that the mobile wallet would continue to operate as a standalone business. "I'm thrilled to say, in the case of Axis Bank, FreeCharge will continue to operate as an entrepreneurially run standalone business, and the business will retain the 'FreeCharge' brand, technology and full team," he wrote.

This is what Kunal Bahl wrote to employees after FreeCharge’s sale to Axis Bank

<keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">Startups</keyword> such as <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, <a href="http://www.businessinsider.in/snapdeal-has-started-down-sizing-600-employees-have-already-been-fired/articleshow/57343065.cms">Snapdeal</a>, YepMe and Craftsvilla, have been on a firing spree and employees are sinking into depression, holding themselves responsible for the layoffs. 
 
However, these employees need to keep in mind the fact that the layoffs happened more because of business conditions and not specifically because of their poor performances. 
 <keyword id="6362476" type="ORGANIZATION" weightage="20" keywordseo="investments">Investments</keyword> in startups dropped to $1.4 billion in 2016 as compared to $2 billion in 2015, which led companies in banking, infrastructure and information technology to <a href="http://www.businessinsider.in/working-for-a-startup-your-job-is-in-danger/articleshow/57405822.cms">tighten their hands</a>. 
 
"It's unfortunate, but layoffs are simply a way of corporate life now. So, maintain a positive outlook and think about what you want to do," Rohit Sandal, HR director at Lenovo, told ET. 
 
Also read: <a href="http://www.businessinsider.in/forget-appraisal-cognizant-might-fire-more-than-6000-employees-this-year/articleshow/57729436.cms">Forget appraisal! Cognizant might fire more than 6,000 employees this year</a> 
 
While some employees who were laid off decided to immediately look for another job, some decided to take a break and volunteer for a cause, giving them a different perspective in life and also giving them a chance to stand out in the eyes of <a href="http://www.businessinsider.in/heres-someone-who-is-ready-to-employ-laid-off-employees-ofsnapdeal-and-stayzilla/articleshow/57343884.cms">future employers</a>. 
 
Mental health can get adversely impacted if one keeps thinking about the negative things in life, which is why one needs to opt for de-stressing exercises, yoga and meditation. 
 
One can also make good use of this free time to learn something new and enhance their skills, which would have been difficult to manage with the job. 
 
Also read: <a href="http://www.businessinsider.in/layoffs-jeopardize-job-security-resumes-flooding-hiring-platforms/articleshow/57554146.cms">Layoffs jeopardize job security; resumes flooding hiring platforms</a> 
 
At the end, what matters is that laid off employees remain positive and take it as a chance to reinvent themselves, knowing that it was not their fault that they were let go. 
 
(Image source: Benzinga)

Losing that job was not your fault! Don’t let yourself sink into depression

If funding and scaling were the in the talks of 2015, acquisitions, layoffs, and <keyword id="952826" type="UNKNOWN" weightage="20" keywordseo="shutdowns">shutdowns</keyword> have surely been the trend in 2016. 
 
This year has been infamous for some shocking shutdowns. Here's a list of startup shutdowns that were unexpected. 
 
<a href="http://www.businessinsider.in/After-the-AskMe-fiasco-What-you-should-do-if-your-startup-suddenly-shuts-shop-/articleshow/54017530.cms">ALSO READ: After the AskMe fiasco- What you should do if your startup suddenly shuts shop.</a> 
 
Take a look! 
 
Image credits: Businessinsider.com

Five popular start-ups that have shut down this year

Amid layoffs by several new-generation tech startups, <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> is looking to hire 500 people at mid-and senior-levels to bolster various functions of the company such as supply chain, technology, design among others. 
 
“These positions will be based across our Gurgaon and Bangalore campuses. We are looking at people with experience in FMCG, technology and telecom sectors," said Saurabh Nigam, VP, human resources, at Snapdeal. 
 The <keyword id="6357342" type="PERSON" weightage="100" keywordseo="Hiring">hiring</keyword> announcement comes even as the Gurgaon-based online marketplace has hired around 2,000 people over the last seven months, taking the total headcount to 7,000. 
 
"We have put strong science behind our manpower planning. We are conscious about growth in our teams. What's happening in the startup space is unfortunate. You end up with over-hiring without putting any logic in place due to the exuberance of initial investments. Then all of a sudden, you see your fixed costs going up and things go out of control," said Nigam. 
 In September this year, Snapdeal said it would spend around Rs 660 crore to enhance its supply chain. "These are all part of targeted hiring. People from the <keyword id="34529" type="ORGANIZATION" weightage="100" keywordseo="fmcg-sector">FMCG sector</keyword> has expertise in handling large and complex supply chains. We have usually seen that they perform extremely well in tech companies such as ours," said Nigam. 
 
 
Nigam said in the near future e-commerce companies will witness demand for people from sectors such as category management and marketing and brand building. "To expand, we would need marketing executives who can build our brand with sellers," said Nigam. 
 Notably, several startups including <keyword id="3601251" type="UNKNOWN" weightage="100" keywordseo="TinyOwl">TinyOwl</keyword>, <keyword id="6388367" type="COMPANY" weightage="100" keywordseo="Jabong">Jabong</keyword>, Housing and Zomato, have started handing over pink slips to their employees. After restaurant discovery startup Zomato laid off 300 people, Mumbai-based food start-up TinyOwl has fired around 300 employees in less than two months.

You Searched For "snapdeal layoffs" and got 11 results

Snapdeal to lay-off employees soon, confirms company sources

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