At present, Jabong has 600-700 employees, a majority of whom are expected to be retained and will become employees of Myntra
Soon after Binny Bansal's exit from Flipkart, it has now being reported that Walmart would fire 200 Jabong employees as a part of restructuring. Accroding to a report in Mint, Walmart is set to carry out a massive layoff at Jabong and integrate the online fashion retailer completely into Myntra.
Quoting people close to the development, the report further stated that the layoff would start on Friday.
At present, Jabong has 600-700 employees, a majority of whom are expected to be retained and will become employees of Myntra, the people mentioned above said.
The Jabong site will continue to run, but the traffic from the website will be directed to Myntra, after the merger with Myntra is completed, the report said.
Meanwhile, it's also being reported that Myntra's and Jabong CEO Ananth Narayanan might also leave the company. According to media reports, Narayanan might quit due to his personal rift with Kalyan Krishnamurthy, who is now the new CEO of Flipkart.
"If Ananth has to report Kalyan, he will also not stay for long because Kalyan already has Rishi Vasudev who manages fashion," a person familiar with the development was quoted as saying by Moneycontrol.
However, Walmart said, "Narayanan will continue as CEO of Myntra and Jabong and will report to Krishnamurthy. Sameer Nigam will continue to head PhonePe -- Flipkart's payments unit -- as CEO. Both Krishnamurthy and Nigam will report directly to the board".
Flipkart's Chief Executive Officer Binny Bansal had quit after allegations of personal misconduct. The chief executive of Flipkart Group, Walmart Inc's Indian e-commerce business, resigned following an internal probe into accusations of "serious personal misconduct," Walmart said Tuesday.
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