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Business

Indians seek corporate job security as startup dreams fade

Traditional big companies regain allure amid high-tech layoffs and shutdowns

Staff of multinational companies like GE and Volvo take a break at the Brigade Metropolis complex in Bangalore. (Photo by Nivedita Bhattacharjee)

BANGALORE -- A couple of years ago, Amit Khandelwal quit his job at a multinational corporation to join Snapdeal, an online retailing startup. "I went to work for a startup because the job was more challenging, the pay was higher and the title was fancier. In a corporate, you can't climb up the ladder as quickly as you can in a startup," he said.

However, after leading some of Snapdeal's growth initiatives, Khandelwal decided to go back to working as a business development leader at his former company, a global healthcare giant. He made the move just days before Softbank-backed Snapdeal fired 600 employees in a cost-cutting round. Now, the company is in talks about a possible takeover by Flipkart, a bigger rival.

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