India: Flipkart, Snapdeal slash hiring in bid to cut costs

India’s largest e-commerce companies Flipkart Ltd and Snapdeal, which are struggling to raise fresh funds, have slashed hiring, along with spending on discounts and advertising, as they seek to cut losses amid a sharp slowdown in sales growth. Apart from hiring a few senior leaders, both companies have reduced hiring to a trickle over the past two months in order to cut costs, four people familiar with the matter said.