E-commerce marketplace Snapdeal has furloughed – imposing temporary leave from work — around 7 percent – 50-55 employees – of its 750 full-time workforce for three months due to the Covid-19 lockdown in India.
In addition to full-time employees, Snapdeal also has around 800 contractual workforce across India. “Furlough could be extended depending on the situation. The affected employees are across teams including product, technology, sales etc.,” Financial Express reported.
“A small number of our team members will be on a three-month furlough as we align talent based on current and medium-term projects. During the furlough period, they will receive their contractual dues and will have continued entitlement to medical insurance for themselves and their families,” a Snapdeal spokesperson said.
Snapdeal in 2017 had reportedly laid off around 600 employees while founders Kunal Bahl and Rohit Bansal had foregone their salaries to stay on their path to profitability. Its consolidated revenues grew close to 73 per cent to Rs 925.3 crore in FY19 while losses went down to Rs 186 crore from around Rs 611 crore in FY18.
Snapdeal had restored its services across India – around 26,000 pin codes – last week. Amazon and Flipkart had started taking orders for deliveries in the red zone, except for containment zones.
Online ventures such as Ola, Zomato, Swiggy, Uber, WeWork, OYO, ShareChat etc. either laid-off employees or asked for pay cuts.