NEW DELHI/BENGALURU: With the start-up bubble beginning to pop, funds have thinned across boards and Pink Slips are becoming more visible among many companies in the e-commerce sector. Online shopping giant Flipkart has also decided to lay off 700 of their underperforming employees. Previously, Snapdeal, Zomato, Grofers, Housing, TinyOwl and a host of others had laid-off staff.
Flipkart gave their explanation of the mass dump saying, “They are encouraged to seek opportunities outside the company where their skills can be better utilised.”
However, according to employees, the layoffs had more to do with the fund crunch at Flipkart rather than performance. Some have even alleged that the company is adopting unethical tactics to make employees quit on their own so that no compensation has to be given.
Flipkart said when employees do not meet the performance bar, the company works with them closely to help them improve their performance. “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 utilised,” it clarified.