Binny Bansal, co-founder of an ecommerce giant, Flipkart exited from his position and the company after the serious allegations against him on Tuesday, about the personal misconduct. This event is having a domino effect on Ananth Narayan, CEO of another big name in the ecommerce industry, Myntra, and Dipanjan Basu, Chief Financial Officer, who have resigned from their position, a close source reported on this matter.
The organization reaaraged the entire situation after resignation by Bansal,a nd asked Ananth Narayan to report to Kalyan Krishnamurthi, CEO of Flipkart. People observing the company have at once started to speculate about continuation by Ananth Narayan at Myntra, since it was said that he did not have good terms with Kalyan Krishnamurthy. Previously, Ananth used to report to Binny Bansal, Group CEO.
Significant Reduction in Myntra’s Workforce
On being asked by Times of India to Krishnamurthy, regarding this senior-level exits, without hesitating he simply stated in an email that the Flipkart group is immensely committed and feel responsible for Myntra’s success and its growth form business point of view, more seriously than ever. The Myntra group is performing very innovative and effective job to expand the company and develop India’s competing online platform to keep on operating independently to become even more successful.
Moreover, Myntra also noticed its workforce to be reduced majorly, a source reported. TOI was told by two key executives at Myntra that a significant layoff in the workforce is carried out, around 100 and might go as high as 400 to 500 employees.