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Walmart to shed one-third of employees at Jabong, merge with Myntra

As a process for the merger of Myntra and Jabong is going on, Walmart started to shed about one-third of the employees at Jabong after the ouster of Flipkart CEO, Binny Bansal.

As the 40% of the workforce is predicted to be out, the chief financial officer of Myntra and Jabong, Dipanjan Basu also stepped down. Basu who joined Myntra in 2016 was the Vice-president at Wipro Digital.

The move to trim the employees is confirmed by the Myntra Chief Ananth Narayanan who wrote a letter to the employees and said that “friends and co-workers at Jabong will be impacted”.

walmart - business news - truecolumn
Walmart – Business News – True column

The fields which will be worked together are marketing, revenue, finance, creative teams and technology as confirmed by the Myntra Spokesperson.

This comes after step down of Flipkart’s CEO Binny Bansal after the allegations of sexual assault by the ex-employee of the company. Myntra was acquired by Flipkart in 201 for around $300 million.

 

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