ShopClues lays off 200 people to cut costs

NEW DELHI: E-commerce platform ShopClues has laid off about 200 employees as it struggles to rein in costs in the hyper-competitive online shopping segment in India. According to sources, ShopClues has sacked about 200 people as its efforts to find a buyer failed.

When contacted, a ShopClues spokesperson said the company has been steadily reducing its workforce mostly in operating functions as it leverages gains from technology.

“We have always been an employee first company and have ensured that impacted employees, if any, are out placed proactively,” it added.

Recently, ShopClues was in talks with larger rival Snapdeal for a potential acquisition.