Flipkart to reduce its workforce by 5-7% based on performance by April

Flipkart, owned by Walmart, has commenced a workforce reduction initiative that could lead to a five to seven per cent decrease in its total team, according to a report by The Economic Times (ET). This move is part of the company’s annual performance-based job reductions, which have been in effect for the past two years. The process is expected to be completed by March-April, coinciding with the ongoing performance reviews and the end of the ongoing financial year.

The e-commerce giant, with 22,000 employees (excluding Myntra), has been actively managing costs, including freezing fresh hiring over the past year.