Myntra, a leading fashion e-commerce company, is consolidating its operations and laying off workers. The goal of the exercise is to relocate its satellite operations from Gurugram to Bengaluru. While some positions will be eliminated, others will be consolidated into bigger teams centred in Bengaluru. Fifty people from the supplier team in Gurugram would be affected by the layoffs and relocation.Why Myntra is Moving it Ops to Bangalore?Teams will be relocated in an effort to improve coordination, streamline internal processes, and centralise operations. The affected employees would be provided with severance pay, outplacement services, and extended insurance coverage by the Walmart-backed marketplace. Artificial intelligence (AI) deployment and performance have nothing to do with the layoffs and relocation.The three co-founders of Myntra—Mukkesh Bansal, Ashutosh Lawania, and Vineet Saxena—started the company in 2007 with the goal of creating an online marketplace where independent vendors could offer clothing and accessories. For $240 million, Flipkart bought the Bengaluru-based business in 2014. Net profit for Flipkart’s fashion e-commerce division increased by 18 times to INR 548 Cr in FY25, from INR 31 Cr the year before. After coming in at 5,122 Cr in FY24, the company’s operational revenue increased to 6,043 Cr, an increase of… Read MoreStartupTalky- Business News, Insights and Stories
