You are here

India tech startups take cost cutting route as funding falters

Following in Flipkart's footsteps, ANI Technologies PVT's Ola has shuttered smaller brand TaxiForSure, acquired over a year ago for US$200 million, and let go of staff.


INDIA'S largest online shopping service is heating up, and not in a good way.

Flipkart's regular Friday townhall grew tense after employees incensed by hundreds of job cuts openly accused management of betrayal. Taken aback, chairman Sachin Bansal countered that the