Employees of e-commerce marketplace Snapdeal and online homestay aggregator Stayzilla, who have lost their jobs, could look forward to new job opportunities with Vijay Shekhar Sharma, founder of mobile wallet firm Paytm, inviting them to join his company.
Sharma tweeted, “Hello, Tech/Product people in Delhi NCR, feeling heat of business restructuring? We welcome you @Paytm and @Paytm-Mall with open arms.”
Snapdeal, which has been struggling for some time to generate business momentum and raise fresh funds, has given the pink slip to around 600 employees. Similarly, the home stay aggregator Stayzilla has announced that it would shut down its operations for now and restructure its business model. The founder of Snapdeal, Kunal Bahl had admitted to mistakes in his business model.
On the other hand, Paytm has been on a major upswing ever since the Centre’s demonetisation move and is looking to launch a payment bank soon. The employees of these e-commerce and startup firms generally command a higher premium in terms of compensation given the uncertainty of their business models.
However, in this changed scenario there is an opportunity for other companies to hire these talents at reasonable salary packages.