Flipkart is reportedly planning to trim its workforce by 5 to 7 percent. This decision miggh affect around 1,500 employees.
According to reports, the exercise has already been set in motion with performance reviews and will be completed by March-April 2024. Flipkart has 22,000 employees. The count does not include those working for its fashion portal Myntra.
The ecommerce giant is reportedly also looking at an internal rejig to optimise its resources and also remain profitable. Annual job cuts based on performance reviews are not new and Flipkart has been doing this for the past two years.
The company has frozen hiring and has not onboarded fresh talent since the past year to cut costs, as per ET’s report.
“This has become an annual practice now. As part of the appraisal cycle, they (Flipkart) are restructuring teams. Overall business in 2023 had its ups and downs for the ecommerce industry, including Flipkart. So, corrections are being done now,” ET’s report further said.