Snapdeal co-founder Kunal Bahl (left) and Rohit Bansal, who drew a compensation of Rs40 crore each last year, will now take a 100% salary cut. Photo: Pradeep Gaur/MintBengaluru/New Delhi: Snapdeal co-founder Kunal Bahl on Wednesday accepted that the start-up had made errors in execution at a time when the e-commerce firm is in dire need of funds. In an email to employees, a copy of which was seen by Mint, Bahl said on Wednesday that co-founder Rohit Bansal and he will take a “100% salary cut”. Bahl wrote to Snapdeal employees after the company said that it will cut jobs without specifying a number. As with Snapdeal’s Bahl, he was trying to placate his employees after Flipkart announced a few weeks prior that it cut some 600 jobs.

Source: Mint February 22, 2017 14:03 UTC