Amid concerns of Indian startups’ financial health, Flipkart – the country’s largest e-commerce firm – put 300-600 employees on a performance improvement plan that might result in layoffs.
“Market correction has impacted e-commerce firms. This is beyond regular attrition. Downsizing cannot be on the back of annual performance reviews. These things are usually planned,” said Sanchit Vir Gogia, Chief Futurist, Founder and CEO, Greyhound Knowledge Group.
Source: Hindustan Times