Flipkart rules out layoff, says we don’t overhire

Major companies like Twitter, Microsoft, Accenture have let go thousands of workers in the last few months. This has led to a panic of recession and inflation. But leading e-commerce player Flipkart has decided not to lay off employees.

The Chief People Officer, Krishna Raghavan while speaking to Livemint said that the firm has no intentions to fire employees as they follow responsible hiring policy. 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."

The report by Livemint also stated that the company's decision to not offer hikers to senior management officials would not lead to any job cuts.

This decision by the management was a strong relief to the employees at Flipkart.

Raghvan further added that there will be no delay in hiring and on-boarding freshers. They are expected to join in June, he told Livemint.

Layoffs

Last week IT giant Accenture announced that it will be firing close to 19,000 employees. Even Flipkart's competitor Amazon has said that it would lay off 9,000 employees in the earlier week.

Flipkart benefitting in India

In its earnings call the top executives at Walmart that owns Flipkart said that the company was benefitting from the investments made in infrastructure that were made in the last three years.

Flipkart's co-founder to invest in PhonePe

Additionally, there have also been reports that Binny Bansal, Flipkart's co-founder is also looking to invest between $100 million to $150 million in PhonePe.