Exploring ways to optimise costs and rewrite its success story, Online marketplace Snapdeal has confirmed that it is undertaking layoffs within the company.

Snapdeal co-founders Kunal Bahl and Rohit Bansal in an email to employees on Wednesday said they have had to take tough decisions to retain the company's profitability, which include - employee layoffs, 100 per cent salary cut for themselves, among others. Quoting Zig Ziglar, Kunal said, "When obstacles arise, you change your direction to reach your goal, you do not change your decision to get there." According ...