Layoffs continue to remain a worrying trend in the global company as leading firms look to save on costs to deal with the gloomy economic climate.
However, leading e-commerce player Flipkart has chosen to take the opposite route and opted to not layoff employees. Speaking to Livemint, Krishna Raghavan, the Chief People Officer of the company said that the firm had no intentions of laying off employees from the company.
“We do responsible hiring and there are no mass layoffs happening at Flipkart. We don't hire in thousands and then land up figuring out that we have too many people on board and resort to extreme measures," he said.
The report also stated that Flipkart's decision to not offer hikes to senior management officials would not lead to any job cuts.
The decision to not layoff employees would surely come as a relief to a number of staffers at Flipkart. Last week, Flipkart's competitor Amazon had said that it would layoff 9000 employees from the firm in the upcoming weeks. IT giant Accenture also announced last week that as many as 19,000 employee would be laid off.
Recently, top executives at Walmart, which owns Flipkart, informed in an earnings call that the firm's contribution margin remained positive and continued to expand. Walmart added that Flipkart was benefitting from the investments made in infrastructure that were made in the last three years. Additionally, reports also emerged as Flipkart co-founder Binny Bansal was looking to invest about $100-150 million in PhonePe.
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