July 29, 2016
NEW DELHI – Months after postponing the joining dates of students hired from IITs and IIMs, e-commerce giant Flipkart is laying off hundreds of underperforming employees, sources told NDTV.
July 29, 2016
NEW DELHI – Months after postponing the joining dates of students hired from IITs and IIMs, e-commerce giant Flipkart is laying off hundreds of underperforming employees, sources told NDTV.
"At times, we have employees who do not meet the performance bar… In due course, if these employees are unable to make the desired progress, they are encouraged to seek opportunities outside the company where their skills can be better utilized," Flipkart said in a statement to NDTV.
Bengaluru-based Flipkart, which employs nearly 30,000 people, did not specify the number of employees that are being laid off.
"This is a fairly common practice across various industries- especially in high performing internet organizations," Flipkart said.
2016 has been a rough year for start-ups, with a number of companies either shutting down or drastically curtailing operations to cut down on losses. The ongoing consolidation in the domestic e-commerce industry has led companies to shift from raking up higher gross merchandise value (GMV) to profitability.
Courtesy: NDTV Profit
