Bengaluru : Flipkart-owned fashion retailer Jabong will merge with its sister company Myntra, which will continue to operate as a separate brand, in a move that could lead to a 10 per cent reduction in the combined workforce. Also, Myntra Chief Executive Ananth Narayanan (pictured) will continue to lead the Myntra-Jabong team, the company said, dismissing speculations about his exit.
The development comes days after Flipkart co-founder Binny Bansal stepped down as chairman and group CEO following an allegation of “serious personal misconduct” against him.
There was tension in the air at Jabong’s Gurugram office as anxious employees waited to be told if they were safe or would be let go. Narayanan, who himself flew to Gurugram, told them that the company would do away with the duplication of roles between Myntra and Jabong to effect a tighter integration. Sources in the company said job losses due to this integration could be around 10 per cent of the combined workforce of Myntra and Jabong, or roughly 200 employees. Jabong is learnt to have around 400 employees on its rolls, while Myntra has 1,500-1,600. Multiple sources also confirmed that the company would be shutting down the Gurugram office, even though a Myntra spokesperson denied any such plan.
Most job losses are expected in functions such as category, sourcing, and design where there is still a duplication of roles. Over the past one year, Myntra has merged Jabong’s technology and supply chain teams with that of its own.
“From Monday, Myntra category heads have been asked to run Jabong. The sense that employees are getting is that planners from Jabong will be retained because they are they only layer of continuity, but they will be asked to sit out of Myntra’s office in Bengaluru,” said a source.
Narayanan, who was earlier against the merger of the two fashion e-tail companies, is learnt to meeting each Jabong employee one-to-one as the company gears up for one of its biggest transformations since US retail giant Walmart acquired a majority stake in parent Flipkart in May.
“November has always been a month of big changes at Jabong, including some unpleasant ones. But somehow, Jabong has always bounced back in a newer and stronger version. We are waiting to see what happens this time as it’s not going to be Jabong anymore,” said a senior Jabong employee, who quit the company recently. In a separate email issued through its public relations agency in India, the company said Jabong’s brand identity, as well as independence, would be retained after the integration.
“Since Myntra’s purchase of Jabong in mid-2016, the two brands have been steadily integrating key business functions and streamlining processes. This has resulted in revenue growth and a significant improvement in customer experience. As the next step in this process, Myntra and Jabong will now fully integrate all the remaining functions including technology, marketing, category, revenue, finance and creative teams,” it said. “The closer integration of Myntra and Jabong is a necessary step in our continuing development.” HR experts said that following such a restructuring, people would not be out of job for long since other e-commerce companies were also hiring majorly and it was just an outcome of the location change, skill requirement or the changing DNA of the organisation.
“This move is just an indication and outcome of any merger or acquisition happening in the industry, and the rationale is to get rid of the duplicity. This does not mean that exodus of e-commerce would start happening. However, there may be a rationalisation of manpower, which will happen, and since e-commerce companies are growing exponentially, a lot of inside opportunities must be available,” said Mayur Saraswat, head of digital, IT and telecom vertical, TeamLease Services.
WPI inflation at 8-month low of 3.80 pc in Dec on softening fuel, food prices
New Delhi: Inflation based on wholesale prices fell to a 8-month low of 3.80 per cent in December, 2018, on softening prices of fuel and some food items.
The Wholesale Price Index (WPI)-based inflation stood at 4.64 per cent in November, 2018, and 3.58 per cent in December 2017. According to the government data released on Monday, deflation in food articles stood at 0.07 per cent in December, against 3.31 per cent in November.
Vegetables, too, saw deflation at 17.55 per cent in December, compared to 26.98 per cent in the previous month. Inflation in the ‘fuel and power’ basket in December slumped to 8.38 per cent, nearly half of 16.28 per cent in November.
This was on account of lowering of prices of petrol and diesel through December. Individually, in petrol and diesel inflation was 1.57 per cent and 8.61 per cent, respectively, and for liquified petroleum gas (LPG) it was 6.87 per cent during December.
Among food articles, potato prices became cheaper substantially with inflation at 48.68 per cent in December, as against 86.45 per cent in November.
Inflation in pulses stood at 2.11 per cent, while in ‘egg, meat and fish’ it was 4.55 per cent. Onion witnessed deflation of 63.83 per cent in December, compared to 47.60 per cent in November.
The 3.80 per cent inflation is the lowest in 8 months, and a lower inflation than this was last seen in April at 3.62 per cent. Data for retail or consumer price index-based inflation would be released later in the day.
The Reserve Bank of India (RBI) mainly takes into account retail inflation data while formulating monetary policy. In its fifth monetary policy review for the fiscal, last month, the Reserve Bank kept interest rates unchanged, but held out a promise to cut them if the upside risks to inflation do not materialise.
The central bank lowered retail inflation projection to 2.7-3.2 per cent for the second half of the current fiscal, citing normal monsoon and moderate food prices.
Air tickets, identity cards to become redundant; flyers can use facial recognition to enter airport
New Delhi: The hassle to show air tickets and identity cards at Airport will be over as air travellers can soon enter airport with facial recognition biometric facility.
GMR Hyderabad International Airport Ltd (GHIAL) that operates the Rajiv Gandhi International Airport (RGIA), has successfully conducted the trial of facial recognition technology. During the first phase of the trial, employees of GHIAL were included. The second phase of the trial is expected to be launched by the end of this month, in which GHIAL will include common air fliers. And if the second phase of the trial is successful, GHIAL will implement facial recognition technology in Hyderabad airport from March onwards.
Three phases of facial recognition technology
First phase: GHIAL has installed facial recognition cameras in the Hyderabad. In the first phase, the imaging of passengers will be done through these cameras which will recognise the faces of the flyers.
Second phase: There would be a centralised registration system for passengers. Each passenger’s face will be attached with his/her photo identity like passport, Aadhaar, voting id, driving licence etc. The details of passengers along with his facial mapping will be scanned and stored by GHIAL through the centralised registration system at the Airport.
Third phase: The ID proof of the passengers along with their facial mapping will be stored at the e-boarding gate of the Airport.The data centres at Airlines will also have similar information. Whenever such passengers book tickets, the data system will alert the Hyderabad Airport authorities.
The moment you book a flight ticket originating from Hyderabad airport, your details will be shared by the data centre and the information will be given to all the concerned authorities.
When you reach the Hyderabad terminal gate, face recognition technology will identify you and all your details will be shared on the screen. The security personnel at the gate will access all your information via the system.
Similarly, your details can be accessed by the security personnel at the check-in counter, security check-in. Once the formalities are done, passengers will get an online boarding pass on their mobile phone.
Maruti all-new WagonR 2019 available for booking at Rs 11,000
New Delhi: Country’s largest car manufacturer Maruti Suzuki India on Monday said that its all-new WagonR is available for booking starting.
Customers can book the 3rd generation WagonR at authorized dealer network across the country by paying Rs 11,000. They can also book the car online.
The New WagonR is powered by the advanced K-series engine offering high fuel efficiency and an unmatched driving experience, Maruti said. The car now comes with a new 1.2 L engine option that delivers powerful and impressive performance coupled with great fuel economy. Customers will also have the choice of 1.0 L engine for the all-new WagonR.
Maruti Suzuki’s acclaimed two pedal technology will also be offered in the new WagonR. The Auto Gear Shift (AGS) offers. Maruti said that for the first it is going to offer the most innovative SmartPlay Studio infotainment experience in the Big New WagonR.
The car will be available in Pearl Poolside Blue, Pearl Nutmeg Brown, Magma Grey, Pearl Autumn Orange, Silky Silver and Superior White Range of variants. The Petrol: 1.0 L engine will be available in Lxi, Vxi / Vxi AGS variants while the Petrol: 1.2 L will be available in Vxi, Vxi AGS, Zxi / Zxi AGS variants.
“The new WagonR gets bigger with enhanced comfort. The car’s sturdy and masculine look with true tall boy design makes for a strong road presence. The Big New WagonR not only embodies strong looks but is also stronger inside out,” Maruti said in a release.