🧵 1. E-commerce giant Flipkart plans to lay off 1,000 employees, around 5% of its workforce, as part of performance reviews by March-end. #business
🧵 1. E-commerce giant Flipkart plans to lay off 1,000 employees, around 5% of its workforce, as part of performance reviews by March-end. #business
🧵 2. CEO Kalyan Krishnamurthy informed employees during a townhall that Flipkart's financial health is improving and its cash burn is at an eight-year low.
🧵 3. Flipkart's travel business is progressing towards profitability. Last year, the company reduced losses and received a $600 million investment from Walmart.
🧵 Read more at: https://www.financialexpress.com/business/industry-flipkart-may-layoff-1000-employes-post-performance-reviews-3375600/