Saturday, February 25, 2017

To save company, Snapdeal bosses try Spicejet chief’s route

When online shop Snapdeal founders Kunal Bahl and Rohit Bansal told anxious staff that they would share the pain of the rank and file, they were following a lofty example: SpiceJet Chairman Ajay Singh had foregone his monthly envelope until the foundering airline revived.
According to sources, Bahl, Bansal and Singh met for lunch in January and over the meal the founders decided to lead by example. Singh followed up the lunch engagement with a visit to Snapdeal's Gurgaon office on February 1 to tell the top management ways to revive the retailer, sources told ET.
"The lunch meeting between the two founders and Singh also discussed change in strategy from going after market share through discounts to working towards profitability. The founders were also advised by Singh to lead by examples and take a pay cut before going for a pay cut of its employees," said a source in the know, who did not want to be identified.
24/02/17 Mihir Mishra & Biswarup Gooptu/The Times Of India