At a time when speculation on Snapdeal’s condition and its sale to Flipkart is rife, co-founders Kunal Bahl and Rohit Bansal of the ecommerce major reached out to its employees to put any potential misconceptions to rest.
In an email letter written to all employees, co-founders said that the well-being of the entire team is their top priority. Acknowledging potential sale talks that are taking place, “While our investors are driving the discussions around the way forward, I am reaching out to let you know that the well-being of the entire team is mine and Rohit's top and only priority,” the email stated.
And at a time where there are reports of layoffs by startups on a daily basis, Bahl and Bansal assured employees that they will do all that they can to work with investors and ensure that there is no disruption in employment. “We will do all that we can and more…that there are positive professional as well as financial outcomes for the team as the way forward becomes clear. Let me repeat, your well-being is our #1 priority,” they said.
There have been promises made with regards to the increments as well. “In the interim, the annual performance review process is nearly complete and you will receive the salary revision and promotion letters (where applicable) over the next two weeks,” they said in the email.
Moreover, Bahl and Bansal have assured employees, given the incredible progress Snapdeal has made around its profitability journey as a company that the increments this year will be higher than those offered last year.
In the past few weeks, Snapdeal’s biggest investor SoftBank, which has 33% stake in the company, has been mulling talks to sell the ecommerce major to Flipkart or Paytm. Reports suggest that talks with Flipkart have almost been finalized.