Apart from Flipkart, there is going to be massive layoffs in Swiggy. Flipkart will lay off 1,000 employees, which is about 5 percent of its total workforce. Swiggy will also lay off 400 people.
Apart from Walmart-owned Flipkart, there are going to be massive layoffs in food aggregator Swiggy. Flipkart will lay off 1,000 employees, which is about 5 percent of its total workforce. Let us tell you that Bengaluru-based e-commerce company Flipkart has about 22,000 employees on its payroll. This does not include employees of e-commerce fashion portal Myntra.
Flipkart’s situation is improving
According to the news of Moneycontrol, Flipkart makes layoffs every year on the basis of performance. It is possible that the latest layoffs may also be on the same lines. However, Flipkart did not respond to Moneycontrol’s questions. On January 25, Flipkart CEO Kalyan Krishnamurthy had organized a townhall with employees. During this, he said that the financial condition of the company is improving. He said that by the end of the year Flipkart will be in a much better position.
The Flipkart CEO also said that the company’s United Payments Interface (UPI) project is in the works and is currently being tested with a small group of users. The e-commerce company intends for customers to use Flipkart’s UPI while shopping and stay on the platform instead of switching between multiple apps to make payments. According to the report, it is possible that Flipkart’s plan to launch an IPO may be delayed till 2025.
Layoffs in Swiggy too
At the same time, 400 employees will have to be laid off in Swiggy also. Moneycontrol said in a report that this is the second round of layoffs in Swiggy. About 7 percent of Swiggy’s workforce is expected to be affected. Sources said tech, call center and corporate teams fear being hit the most. The company has approximately 6,000 employees on its payroll. The company had fired 380 employees in January 2023 and also closed its meat market to reduce costs. The layoff move comes at a time when Swiggy is planning to list on the stock exchanges later this year.
