Flipkart layoffs hit four senior level executives: Report

Walmart-owned ecommerce giant Flipkart, which battles with Amazon in the Indian market, has reportedly let go of four Senior Vice Presidents (SVPs) from the company. 

While the announcement wasn't official, an ET report said that Flipkart CEO Krishnamurthy made this announcement through an internal communication to the staff.

Who are those four senior executives?

The executives leaving include Cleartrip’s head Ayyappan R, marketplace and categories leader Amitesh Jha, fintech and payments head Dheeraj A, and growth and retention head Bharath Ram.

Last month, Krishna Raghavan, the company's Chief People Officer, left Flipkart. In May 2023, Flipkart also witnessed the departures of several key executives, including Adarsh Menon, Senior Vice President and Head of New Businesses including Shopsy, ReCommerce, and Cleartrip; Chanakya Gupta, Vice President of Strategic Partnerships and D2C Brand Accelerator; and Ravish Sinha, Senior Vice President of Supply Chain, Product, and Technology.

Focused on achieving profitability 

"Since its inception, Flipkart has always created stellar leaders who have not only scaled our business to new heights but have also moved on to create successful businesses in the ecosystem at large. Our approach to enabling wealth creation and career planning for all employees has given several individuals the opportunity to pursue the next phase of their careers, which has led to some exits among senior management," Krishnamurthy said in the note.

The development is seen as part of a broader strategy to increase agility and efficiency within the firm. The company is also focusing on achieving profitability by the end of calendar year 2024, the report said. 

CEO hints future collaborations

CEO Krishnamurthy said the company will continue to look for ways to partner with businesses created by these executives going ahead.

The exits of these SVPs are part of a larger organizational reshuffle that has seen performance-based trimming across all verticals, including vice presidents in engineering and product.

Reports suggest that between 5-7% of Flipkart's workforce will be affected by these layoffs. Additionally, the SVP cohort, which comprises about 20 executives, has experienced nearly 30% turnover in the past year, indicating a significant period of transition for the company.

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