Report: Layoffs Impact Senior Executives at Flipkart
- ByStartupStory | February 20, 2024
E-commerce giant Flipkart has reportedly initiated its annual layoff plan, resulting in the departure of four senior-level executives, as per media reports. Among those affected are Ayyappan R, CEO at Cleartrip and SVP at Flipkart, Amitesh Jha, SVP Category and Marketplace, Bharath Ram, SVP Growth and Retention, and Dheeraj A, SVP Fintech and Payments. Kalyan Krishnamurthy, CEO of Flipkart, confirmed these departures in a note to employees, stating, “Since its inception, Flipkart has always created stellar leaders who have not only scaled our business to new heights but have also moved on to create successful businesses in the ecosystem at large.”
Krishnamurthy highlighted the executives’ pursuit of entrepreneurial endeavors as the reason for their departure. He noted, “Amitesh, Ayyappan, Bharath, and Dheeraj are part of this talented set of visionary leaders who have chosen to embark on journeys beyond Flipkart.”
The note also mentioned Flipkart’s intention to continue partnering with businesses established by these departing executives. Additionally, Flipkart’s Chief People Officer, Krishna Raghavan, exited the company in January 2024.
Earlier departures in May 2023 included Adarsh Menon, Senior Vice President, along with Chanakya Gupta, Vice President, and Ravish Sinha, Senior Vice President. This marks the first time the annual layoff has impacted senior executives.
Flipkart’s annual performance-based restructuring is anticipated to affect around 1,000 employees, roughly 5% to 7% of the total staff. In January, CEO Kalyan Krishnamurthy had announced plans to enhance efficiency within the company during a town hall meeting. He also highlighted the company’s focus on verticals such as grocery, hotel booking through Cleartrip, and the launch of its UPI feature.
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