Snapdeal plans to layoff 1,300 employees, will assess resources

 A bunch of senior level executives have already exited the company including Tony Navin, senior vice president of partnerships and strategic initiatives and Abhishek Kumar, head of merger and acquisitions and investments. With an aim to cut costs, struggling e-commercefirm Snapdeal is likely to downsize its team by around 1,300 employees, a major chunk of which is expected to happen this week, according to two people privy to the development. The segments which will be affected the most include marketplace health team from which around 38 people are being let go off. One of the people quoted above on the condition of anonymity said that this includes downsizing of the California team as well. Snapdeal had set up its data centre in California in May last year. The company has an estimated headcount of over 4,000 employees now. 

 Snapdeal spokesperson said: "On our journey towards profitability, it is imperative that we continue to drive efficiency in our business, which enables us to pass on the value to our consumers and sellers. As in the past, and like all good companies do, we will continue to assess resource allocation in furtherance of our goals of enhancing customer and seller experience while driving high quality growth." A bunch of senior level executives have already exited the company including Tony Navin, senior vice president of partnerships and strategic initiatives and Abhishek Kumar, head of merger and acquisitions and investments. The move comes barely a month after Jason Kothari the former chief executive officer of beleaguered real estate startup Housing.com was parachuted into the company as its chief strategy and investment officer

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