Flipkart is not among the companies that hire in thousands and then resort to mass lays off, said the company’s Chief People Officer Krishna Raghavan in a recent interview with a media outlet. This comes as many companies are downsizing for various reasons, including changes in market conditions.
“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,” Raghavan reportedly said in an interview. “We do responsible hiring and there are no mass layoffs happening at Flipkart.”
That said, it appears Flipkart is navigating smoothly amid the rough seas of the ongoing mass layoffs season. Flipkart, one of the leading e-commerce companies in India, has a workforce of over 15,000 employees that are spread across various functions such as technology, operations, logistics, marketing, and customer service.
Raghavan said that the decision to not provide raises to top management will not result in resignations because it follows a promotion and raise cycle last year. He also mentioned that a employee stock option (ESOP) buyback plan of $700 million was also implemented after the pay increases and it will benefit the employees.
“In January 2022, we did a one-time increase on salaries off-cycle. We continued pretty much with all the promotions. So, the 3000-4000 people get their promotions , and promotion-linked increments. They get their bonus, they get their new ESOP grants, and there’s a one-time discretionary payout that will happen in the second quarter (by June-end),” he said. “Flipkart is one company in the ecosystem where ESOPs actually turn into liquidation opportunities.”
The Bangalore-headquartered company has offices and warehouses in many cities across India and is known for its innovative business models and customer-centric approach. The company has played a significant role in transforming the e-commerce landscape in India.
Unlike other IT firms, Raghavan said they are well on their way to hire freshers for various roles across the organization giving opportunities for entry-level candidates.
Campus hirings are as per planned and freshers will join in June, he said. “We are very thoughtful and deliberate on how we do workflows planning in general.”
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“As we expand our business portfolio, and grow in the marketplace, this is a tremendous opportunity and potential for us, and we’ll constantly revisit how we look at increments in the subsequent years. We do have liquidation opportunities that we offer to our employees almost every year,” he added.
The leading e-commerce company has increased its internal job posting as opposed to new hirings. “In the last couple of years, our internal talent mobility in terms of the number of positions we filled internally versus externally has doubled.
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