Online fashion retailer Jabong is expected to lay off a significant portion of its workforce in Gurgaon as part of a restructuring at Flipkart Group, according to three sources familiar with the development.
In all, Jabong, which was acquired by Flipkarts fashion unit Myntra in 2016, could lay off 40-50% of its 400-strong workforce. Walmart, which owns a majority stake in Flipkart, is looking to drive more synergies between Myntra and Jabong with that of Flipkarts fashion business. The two entities have been brought under the control of Flipkart CEO Kalyan Krishnamurthy following co-founder Binny Bansals exit as group CEO earlier this week.
Flipkart Fashion and Myntra will continue to be run independently, although it is not clear how …
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