Flipkart lays off employees again, cuts about 1,000 roles: Report
Flipkart, owned by Walmart, just let go of employees — reports vary, some outlets put the number at about 300 (about 1.5% of a 20,000-strong team), while others report between 700 and 1,000 — as part of its yearly performance review.
The move is routine for the company and follows a bigger round earlier in 2024 when about 1,000 roles were cut to keep operations lean.
Despite layoffs, Flipkart's IPO plans are on track
Even with these layoffs, Flipkart isn't slowing down on its big plans: it's aiming for an IPO by late 2026 or early 2027.
The company is already talking to major banks like Goldman Sachs and JPMorgan to make it happen.
A recent shift from Singapore to India as its holding base was greenlit last December, setting the stage for this next chapter.
Walmart's acquisition of Flipkart
Walmart later acquired a majority stake in Flipkart.
The acquisition is widely seen as a major milestone that contributed to Flipkart's subsequent growth and strategic developments.