Flipkart Puts 600 Employees on Improvement Plan
Editorials News | Aug-01-2016
India’s largest e-commerce firm- Flipkart, has put 300-600 employees on an improvement plan which might end up in dismissal. A company spokesperson said the performance plan was part of a regular process, and would affect only 1% to 2% of the total employees, which are around 30,000. “At times, we have employees who do not meet the performance bar. We work closely with them to improve their performance. If these employees are still unable to make the desired progress, they are encouraged to seek opportunities outside the company,” he said.
The company has grown by offering discounts and providing logistics free of cost, funded by venture capital money. At its peak, the company was burning $40-50 million a month. A daily reported that Flipkart’s gross merchandise value (GMV), a technical term for value of goods sold without calculating discounts and promotions, stood at $4 billion last year.
The company hopes to achieve a turnaround by realigning, merging and shutting business units. The spokesperson said there have been no layoffs, and the performance plan has nothing to do with the slowdown in operations.
“This is a fairly common practice across various industries, especially in high-performing Internet organisations,” the spokesperson added.
Related News
- The Role of Public-Private Partnerships in Promoting Sustainable Aquaculture
- The Obesity Epidemic: Understanding Causes and Solutions
- Populism in Contemporary Politics: Causes and Consequences
- Populism in Contemporary Politics: Causes and Consequences
- The Power of Positive Thinking: Exploring the Benefits of Optimism
- The Evolution of Fairy Tales: From Folklore to Disney
- The Impact of Urbanization on Biodiversity Conservation
- Purchasing with Heart: Mindful Purchase Decisions
- The Global Impact of Microfinance: Small Loans, Big Dreams
- Investing in Impact: Financing for a Better Society
Most popular news
- The Law Of Equivalent Exchange
- Essay On Issues And Challenges Of Rural Development In India
- Srinivasa Ramanujan And His Inventions
- The Youth Is The Hope Of Our Future!
- Poverty In India: Facts, Causes, Effects And Solutions
- Top 20 Outdoor Games In India
- Festivals Of India: Unity In Diversity
- Role Of Women In Society
- The Impact Of Peer Pressure On Students' Academic Performance
- Books As Companion