Flipkart cuts 300 jobs as part of yearly performance review
What's the story
Walmart-owned e-commerce giant Flipkart has laid off around 300 employees in its annual performance review cycle, according to Moneycontrol. The move impacts about 1.5% of the company's total workforce, which is nearly 20,000 strong. This decision is a part of Flipkart's yearly performance management process where employees falling in lower performance bands are asked to exit the organization.
Past actions
Flipkart's previous layoffs
Notably, this isn't the first time Flipkart has resorted to such measures. In early 2024, the company laid off around 1,000 employees or roughly 5% of its workforce as part of an annual performance review cycle. The e-commerce giant has been focusing on improving operational efficiency and cost discipline amid a broader funding slowdown in the start-up ecosystem and a greater emphasis on profitability.
Future plans
Preparations for public listing in India
The layoffs come as Flipkart gears up for a possible public listing in India. The company has started preliminary talks with investment banks like Goldman Sachs, Morgan Stanley, Kotak Mahindra Capital, and JP Morgan to assess the feasibility of an IPO. Industry sources have indicated that the e-commerce giant could target a listing by late 2026 or early 2027.