e-Commerce giant Flipkart is likely to lay off as many as 1,000 employees which comes to about five per cent of its entire workforce.
According to a Moneycontrol report, this is part of the company's annual performance based job cost cuts.
The company has as many as 22,000 employees, excluding those of Myntra.
The company is yet to come out with a clarification on the expected lay offs.
Flipkart CEO Kalyan Krishnamurthy had recently told the employees that the financial health of the company has been improving and by the end of 2024, the e-commerce major will be in much better shape.
He had reportedly told the employees that it's grocery business has been growing well and its mobile app business has began to make money.
Recently, Walmart, which is the biggest shareholder of Flipkart, said it would inject $600 million as part of latter's bid to raise $1 billion.
