Walmart-owned e-commerce company Flipkart will lay off 1,000 employees or 5 percent of its total workforce as part of an annual restructuring move. moncontrol The report cited people aware of the developments.
Bengaluru-based Flipkart cuts performance-based job costs every year and the latest cuts in the workforce are on the same lines.
Flipkart had around 22,000 people on its payroll. The total number does not include employees of e-commerce fashion portal Myntra.
According to moncontrol According to the report, Flipkart CEO Kalyan Krishnamurthy held a townhall with employees on January 25, during which he said that the company’s financial health is improving. He said that by the end of the year, Flipkart will be in a much better position.
Citing a person familiar with the developments, the report said it is possible that Flipkart’s IPO will be pushed to 2025 as the unit’s economics improve.
“Flipkart’s grocery business has shown very positive momentum and is growing well… Kalyan also told us that Flipkart’s mobile app business is now starting to make money and business is doing well,” said another person. quoted as saying.
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