Myntra To Cut Around 50 Jobs As Part Of Restructuring As per media reports, the roles impacted by the restructuring will span across various verticals, but the private label biz will be highly impacted
By Teena Jose •
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Flipkart-owned e-commerce fashion startup Myntra is reportedly planning to layoff around 50 employees as part of its restructuring. According to media reports, the roles impacted by the restructuring will span across various verticals, but the private label biz will be highly impacted.
"In our endeavor to cater to the ever-evolving needs of our customers, new developments, and technology innovations, we recalibrate our business priorities and review our organizational structure from time to time. Also, the number of affected employees could be lower as the firm will provide opportunities to alternate positions within the group," said the company spokesperson in a statement.
According to an ER report, the brands on the radar include Roadster, HRX and Mast and Harbour – the top selling brands on the marketplace. Over the past few years, Myntra has launched more than 20 master brands, including Invictus, Ether and Sangria.
As per earlier reports, Myntra's private label chief Manohar Kamath resigned in April this year while head of new businesses Adarsh Menon also left the company in May to start his venture.
The platform launched FWD, a GenZ-focused fashion experience portal in May, and aims to attract 10 million Gen-Z users over the next two years.
