 Snapdeal initiates payouts to 600 people fired in February
Snapdeal has started initiating payouts to around 600 employees it fired in February this year. When the layoffs were announced, Snapdeal founders Rohit Bansal and Kunal Bahl committed to take a 100% pay cut. The e-commerce startup has reserved about 4-5% of its shareholding for ESOPs, the value of which has dipped over the past few months. 