Myntra Proceeds with Restructuring, Approx 50 Employees to be Laid Off

  • Flipkart’s e-commerce platform Myntra is restructuring, lay off predicted for about 50 employees, mostly in the private label business.
  • Affected employees could be offered alternate positions within the group; this comes after the resignation of key executives earlier this year.
  • Myntra’s FY22 financials reveal over 45% revenue growth to Rs 3,500 crore, but also a 39% increase in losses.
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