Flipkart, a Walmart-owned e-commerce big, will lay off 1,000 staff or 5 per cent of its whole workforce in an annual restructuring transfer, in keeping with a Moneycontrol report citing individuals conscious of the developments.
Bengaluru-based Flipkart undertakes these efficiency-primarily based job value cuts yearly and the recent discount in workforce is alongside these strains.
Flipkart had round 22,000 individuals on its payroll. The whole energy doesn’t embody staff from e-commerce vogue portal Myntra.
According to the Moneycontrol report, Flipkart CEO Kalyan Krishnamurthy held a townhall with staff on January 25, throughout which he mentioned that the corporate’s monetary well being is enhancing. He added that Flipkart will probably be in significantly better form by the tip of the 12 months.
It is feasible that Flipkart’s IPO will probably be pushed to 2025 because the unit economics will probably be higher, the report added citing an individual conscious of the developments.
“Flipkart’s Grocery business has shown a lot of positive momentum and is growing well… Kalyan also told us that Flipkart’s mobile app business is starting to make money now and that the business is doing well,” he quoted one other individual as saying this.
