Flipkart, as part of its annual changes, is reportedly letting go of approximately 1,000 employees, constituting about 5 per cent of its workforce. In 2023, the company chose not to give salary increments to the top 30 per cent of its employees, including senior leaders and imposed a freeze on hiring throughout the year. While the exact number of layoffs isn't disclosed, Flipkart did implement various measures to adapt to economic challenges and industry trends.
Current Workforce and Restructuring
Flipkart presently employs around 22,000 individuals, excluding those working on its fashion platform, Myntra. The reported layoffs do not include this specific group of employees. The company has yet to officially comment on or respond to the reports of the workforce reduction.
Different Approach in 2023
Unlike some other major tech firms, like Amazon, which faced substantial layoffs recently, Flipkart opted for a different strategy. Krishna Raghavan, Flipkart's Chief People Officer, highlighted the company's responsible hiring practices and clarified that they steer clear of excessive recruitment and drastic measures after hiring in large numbers.
Expense Management and Hiring Freeze
To control expenses, Flipkart initiated a hiring freeze in the past year. Even though the main headquarters didn't officially announce widespread layoffs, a restructuring move within Flipkart's subsidiary, a fashion e-commerce company, did result in the departure of approximately 50 employees.
eBay Layoffs
Furthermore, American multinational e-commerce company, eBay is currently undergoing some changes that will result in job losses for several employees. Approximately 9 per cent of the company's total workforce, or around 1,000 full-time employees, will be let go. Additionally, the number of contract workers will be reduced in the coming months.
ALSO READ | Microsoft Translator adds Chhattisgarhi and Manipuri languages: All you need to know
ALSO READ | Moto G24 Power with 6,000mAh battery to launch next week: Check expected price and specs
