E-commerce giant Flipkart is expecting a number of voluntary exits and performance-linked layoffs in the coming months, with an estimated 5% of its workforce or around 1,000 employees likely to be affected. While there will be no mass layoffs, sources confirm that certain teams and categories may see exits based on their performance. This follows a similar trend in other companies, with Swiggy reportedly also letting go of 400 employees and asset management company Invesco raising Swiggy's valuation to $8.3 billion.
E-commerce Giant Flipkart to Face Voluntary Exits and Performance-Linked Layoffs
Background:
E-commerce giant Flipkart is preparing for a wave of voluntary exits and performance-linked layoffs in the coming months. This decision comes amidst a challenging economic climate and intense competition in the e-commerce sector. An estimated 5% of Flipkart's workforce, approximately 1,000 employees, are expected to be affected by this move.
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