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Myntra to cut 50 jobs as part of the restructuring, shifts focus on private labels strategy

Myntra to cut 50 jobs as part of the restructuring, shifts focus on private labels strategy

Myntra may soon be terminating personnel as part of its ongoing restructuring strategy. In the beginning, the e-commerce site operated by Flipkart may fire 50 workers or fewer.

According to numerous media reports, the goal is to adopt technological innovations and incorporate new developments in order to streamline its efforts to address the changing needs of customers. The company will be able to make changes thanks to the strategy, but the in-house brands vertical will be most affected. Now, the business will try to concentrate on a few private labels.

Additionally, according to a statement made by a Myntra spokesperson, the company conducts a regular assessment as part of which it examines the organizational structure and business priorities. The company even gives the employees the option to look into alternative positions within the organization or other Group companies if a small number of roles are affected during the process.

Some employees may also find opportunities within the Flipkart Group during the ongoing reshuffle during this round of job cuts, according to reports. Additionally, the choice has been shared with a number of staff members, and a formal announcement is anticipated to be made on July 26 during a scheduled town hall.

Myntra has been making efforts over the past few months to carve out a distinct position for itself in India’s crowded fashion e-commerce market.

The Flipkart-owned website unveiled FWD in May, a fashion experience portal geared toward Gen Z users. Similar to this, Myntra launched ‘Myntra Minis’ in June with the intention of increasing user engagement and improving the overall shopping experience for its customers.

In the next two years, the business will also concentrate its marketing efforts on luring 10 million Gen Z users and growing its customer base as a whole. The platform will have 8.6 million Gen Z users by 2022.

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