Layoffs, stock option concerns: Snapdeal founders look to calm staff nerves

Employees with stock options now fear their options may be worthless with the sale to Flipkart

The founders of  Snapdeal told employees in an email on Sunday that the e-commerce company will ensure there is no disruption to staff "as the way forward becomes clear," as speculation of a takeover swirls.

The email, seen by Reuters, tacitly acknowledged that a sale of the company could be in the offing, and it sought to calm the concerns of employees at India's No. 3 e-commerce player.

Snapdeal has for weeks been at the center of much takeover speculation, with its largest backer Japan's Softbank, seen as keen to sell the company to its larger rival, Tiger Global-backed Flipkart.

Snapdeal has so