Jabong to fire 200 employees in upcoming months

New Delhi : Industry news confirms that Myntra is planning to fire 200 staff at Jabong in the next three months after deciding to lay off around 50 employees as part of combining process of various department of Jabong with Myntra, a source close to the development said.

A townhall in Jabong’s headquarters in Gurgaon lasted for about ten minutes on Friday and according to two sources, Myntra’s chief executive Ananth Narayanan told the gathering that about 250 jobs will be lost as Myntra and Jabong are combining functions from finance, technology, marketing and creative teams among others departments. If sources are to be believed that then there are around 600 people working with Jabong.

“Myntra and Jabong will now fully integrate all the remaining functions including technology, marketing, category, revenue, finance and creative teams,” a Myntra spokesperson said in an emailed statement. "To remain the leader in fashion ecommerce in India, we have to find ways to operate more effectively and innovate more quickly" added.

Myntra acquired Jabong for $70 million in July 2016 from German investors of Rocket Internet after beating other suitors including rival Snapdeal and Future Group. Myntra has confirmed that Jabong will be operated as a separate business and the ecommerce website is popular among women and the brand is famous in National Capital Region.

Few days back, Flipkart first announced the exit of co-founder Binny Bansal due to allegations of 'serious personal misconduct'. As such, Myntra’s CEO Narayanan was made to report to Flipkart’s CEO Kalyan Krishnamurthy. Finally, the proposal of cutting down 250 jobs were announced at the Jabong town hall.