Myntra, the Flipkart-owned fashion e-commerce platform, laid off approximately 50 employees in late July 2023 as part of an internal restructuring. This move was driven by a strategic shift to revamp its private label business, focusing on a select few key in-house brands like Roadster, HRX, and Mast & Harbour, rather than scaling its entire portfolio of around 20-25 brands. The layoffs, while affecting various verticals, primarily impacted staff in the in-house brands division. This restructuring reflects Myntra's effort to streamline operations and adapt to competitive pressures in the online fashion retail industry, where it faces rivals such as Ajio and Tata Cliq. The company, led by CEO Nandita Sinha, emphasized that such recalibrations are routine and offered affected employees opportunities to transition to other roles within the organization or its group companies.
