Indian e-commerce giant Flipkart has announced layoffs affecting around 400-500 employees as part of its regular annual performance review process. The move comes as Flipkart prepares for an initial public offering (IPO) to list on the Indian stock exchanges. While the exact number of employees impacted was not disclosed, this represents approximately 3-4% of Flipkart’s total workforce. The company stated that these terminations are a standard part of the review cycle, with affected employees receiving transition support. Layoffs following performance reviews are common for large organizations like Flipkart, typically affecting 1-2% of the workforce.
Flipkart has reportedly engaged in discussions with investment banks, such as Goldman Sachs and Kotak Mahindra Capital, to evaluate the feasibility of the IPO. The timing of the public offering, expected by late 2026 or early 2027, and its size are yet to be determined.
Source: Inc42 Media