Myntra trims workforce amid restructuring
The job cuts at fashion ecommerce platform Myntra could impact nearly 50 employees. The company said that it was a part of "business-as-usual recalibration".
Flipkart Group owned fashion commerce platform is laying off nearly 50 people in an organisation restructure, according to media reports. The move is likely to impact employees across verticals and roles in the company, with some employees being moved to other teams in the group company, confirmed a company spokesperson.
The Economic Times, which first reported the development, said that Myntra will be announcing the layoffs on Wednesday at the company town hall. The job cuts are likely to affect a large number of roles under Myntra’s private label business which includes brands like HRX, Roadster and others.
“In our endeavour to cater to the ever-evolving needs of our customers, new developments and technology innovations, we calibrate our business priorities and review our organisational structure from time to time. As part of this business-as-usual recalibration, wherever a small number of roles may be impacted, we offer our employees an opportunity to alternate positions, where available, within the organisation as well as Group companies,” said a Myntra spokesperson in response to specific queries sent by YourStory.
The group companies include Cleartrip, Flipkart Health+ and Flipkart Wholesale, other than and Myntra. The group company employs nearly 15,000 people across these verticals.
Earlier this year Flipkart had announced that senior leadership within the company will not receive increments for 2023, impacting nearly 30% of its employee base. However, the company claimed that it was hiring cautiously despite the downturn and focused on cash conservation.
Edited by Affirunisa Kankudti