Snapdeal to layoff 600 employees

Bengaluru: India’s third largest online market place – Snapdeal announced on wednesday that it is laying off around 600 of its employees. The lay-offs will affect employees across levels, and the process will be carry on for the next few days. The company’s co-founders Kunal Bahl and Rohit Bansal sent out an email to anxious staff, admitting they took several wrong decisions over the past two-three years amid a funding frenzy and that it was time to course-correct. The communication from the founders follows a cost-cutting drive by Snapdeal to conserve cash. The…

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