Mumbai-headquartered social commerce company Shop101 has asked nearly 40% of its total employees to resign while others have been asked to take pay cuts. The company had informed its employees on April 3 via a group call, Inc42 has learned from sources close to the development.
A source within Shop101 said that out of total 400-500 employees, nearly 200 employees across teams have been asked to leave. The company also terminated nearly 100 contractual employees, who were involved in call centre operations.
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