Snapdeal founders pledge 100pc salary cuts to revive business
The company has initiated downsizing to meet its two-term goal
(Web Desk) – Founders of Indian Snapdeal have pledged to not take their salaries for unspecified time in bid to revive the online marketplace that has had dismal 12 months.
Rohit Bansal and Kunal Bahl, the owners of Snapdeal, an online shop have pledged to take 100 percent salary cut in bid to make the marketplace India’s no. 1 online shopping website.
The company has initiated downsizing to meet its two-term goal but number of employees affected by the decision is undisclosed.
An in-house email sent to the employees states: "Many of our leaders have also stepped up proactively and offered to take a significant cut in their compensation, which is an excellent sign of how galvanised the team feels in this shared quest for profitability,"
