AskMe Suspends Business; Lays off Employees Without Pay
The consumer internet search platform AskMe has reportedly suspended its operations, laying off nearly 4000 employees. The company said t have taken the decision because of severe cash crunch. According to some media reports, its primary investor, Astro Holdings defaulted on payments to sellers, own employees and other dues. The bills had amounted up to $15 Million from January 2016, and since Astro has 98.5 percent stake in AskMe, the company had to rely on just one source of income, Track.in reported. The Gurugram-based company’s e-commerce website is still live but is...