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Flipkart denies noticing Pink Slips to its employees

Although it is not clear yet how many employees will be under the firing axe radar, sources said it is happening across verticals and a few management level employees have already put papers.

Tags: Flipkart, Pink Slips, firing, Walmart deal, India, e-commerce, Sachin Bansal, Binny Bansal

BY Sharmila Das  |  Jun 07, 2018  |  comments ( 0 )  | 
Flipkart denies noticing Pink Slips to its employees

New Delhi: Flipkart in an official statement has denied noticing pink slips to its employees today.

The company has reverted on a recent query shared by where the media platform had asked Flipkart if the company is sacking employees and shrinking employee strength.

As per the people aware of the company's daily dealings, many employees have beend asked to leave in Flipkart. And this has been happening across verticals.

Even a few management people have already put their papers.

The e-commerce company whose majority stake has been picked up by Walmart Inc. last month, is also restructuring its management desk, as per the people in know of the matter.

However, it is not clear yet how many employees will be under the firing axe radar. In an official statement, Flipkart denied such developments.

On May 9th 2018, Walmart Inc. announced acquisition of Flipkart for $16 billion for a valuation of over $20 billion. The acquisition is termed as the biggest buyout for the US company in online segment in India what Walmart has fetched considering the growing internet penetration in a country of 1.3 billion. While the company’s Founder Sachin Bansal has departed Flipkart following the Walmart acquisition, his colleague and Co-founder, Binny Bansal is still with the company as the group CEO. Its present CEO, Kalyan Krishnamurthy is heard to be with the company as well.

The Flipkart story started in 2007 when Sachin, 36, co-founded Flipkart along with Binny, 35, (both are not related) as an online bookstore venture. Sachin had served as Flipkart’s CEO for nine long years then he took the post of Chairman in January 2016, and Binny then becoming the chief executive. Since then, it is reported that Sachin has been away from day-to-day operations of Flipkart. For the past year, he was focusing on building private label ‘Billion’ across categories on its platform along with building an artificial intelligence unit for the company.

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