Flipkart’s employees can now rest assured – the company will not be laying off any of its workforces.
The e-commerce behemoth Flipkart has decided to reject “bulk layoffs” which is rare given that employment cuts have become widespread in today’s date.
No Job Cuts At Flipkart: CPO Krishna Raghavan
The company does not believe in hiring en masse, laying off workers later to reduce headcounts, according to Krishna Raghavan, the chief people officer of the company.
He said, “We do responsible hiring and there are no mass layoffs happening at Flipkart. We don’t hire in thousands and then land up figuring out that we have too many people on board and resort to extreme measures.”
As per reports, no jobs will be affected by Flipkart’s decision not to give raises to its senior executives because a raise and promotion occurred last year along with a stock option buyback plan.
In his explanation of increments, Raghavan said that when the company grows and its business portfolio is expanded, there is a great opportunity and promise for employees. He stated that the company will continually reevaluate how increments are viewed in the years to come. Nearly every year, the organization offers its employees options for liquidation.
Flipkart Increases Number of Job Postings
In comparison to other companies in the sector, the company has raised the number of internal job postings. He said that during the past two years, internal talent mobility—the ratio of posts filled internally as opposed to externally—has doubled.
Amazon just made the decision to fire 9,000 more employees after finishing the second stage of its operating strategy. The leading e-commerce platform fired 18,000 employees in January, earlier than expected.
Accenture also specified that it is anticipating the departure of about 19,000 individuals (or 2.5% of the current workforce), with more than half of these departures coming from the company’s non-billable corporate functions.
In India, Wipro had laid off 452 fresher employees, citing poor performance in internal assessment tests in January.
We had previously reported that American technology startup accelerator, Y Combinator has penned a letter to the US Treasury Secretary Janet Yellen and others. They were urged to prevent any more shockwaves that could trigger a financial crisis that would in turn result in the layoffs of more than 100,000 employees.
