Flipkart may let 1,000 employees go, Swiggy likely to lay off 400

E-commerce firm Flipkart and food delivery company Swiggy, two of the biggest startups, are laying off employees. Walmart-owned Flipkart is looking to let go of 1,000 employees, according to the people familiar with the matter. This represents around 5-7 per cent of its total workforce, as part of its annual performance review exercise.

Flipkart is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter. The firm might consider listing in the US or any other geography, including India.