Ayyappan R, who is the CEO of the travel booking website Cleartrip, a Flipkart-owned company, is expected to leave the firm, as per reports. Ayyappan was also responsible for overseeing and driving the travel players’ brand initiatives.
An Economic Times report states that at least four senior vice-presidents at Flipkart including Ayyappan R, Amitesh Jha, who leads marketplace and categories; fintech and payments head Dheeraj A; and Bharath Ram, who spearheads growth and retention at the web retailer, are likely to exit the company, as Flipkart realigns its senior leadership team and focuses on bringing in efficiency across the board. The SVP cohort has seen 30 percent of leaders exiting, the report adds citing sources.
Read More: Flipkart to launch its payment product within a month to drive transaction velocity
In January 2024, Walmart-owned Flipkart was planning to layoff 1,000 employees, which represents around 5 percent of its total workforce, as part of its annual performance review exercise, according to reports. Flipkart also owns fashion portal Myntra.
Flipkart initiates these performance-based job cost cuts every year and the fresh reduction in workforce is along those lines, too.
Flipkart CEO Kalyan Krishnamurthy held a town hall with employees on January 25, during which he said that the company’s financial health is improving. He added that Flipkart will be in much better shape by the end of the year. It is possible that Flipkart’s IPO will be pushed to 2025 as the unit economics will be better, a person aware of the developments told Moneycontrol.
The CEO also said that Flipkart’s Unified Payments Interface (UPI) project has taken shape and is currently being tested out with a small set of users.
Read More: Flipkart to layoff 1000 employees as part of annual performance review exercise