Flipkart CEO assures employees, says there will be no layoffs or pay cuts

Further, Kalyan Krishnamoorthy has also assured that all job offers, including internships, will be honoured amid the COVID-19 crisis.
Flipkart CEO assures employees, says there will be no layoffs or pay cuts
Flipkart CEO assures employees, says there will be no layoffs or pay cuts
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In an American style townhall held with the employees, Flipkart CEO Kalyan Krishnamoorthy has smoothened their nerves and assured them that there will be no pay cuts or layoffs, as per a report in the Economic Times. Further, he has also assured that all job offers, including internships will be honoured. This was the first such address by the CEO after the nationwide lockdown came into effect last month. 

Flipkart, now owned by Walmart, has been one of the worst affected since the movement of goods and deliveries was severely curtailed. Though the company has started the food and groceries segment also, that forms a miniscule part of its overall business. The bulk of the transactions come from mobile phones and electronic products. Myntra, the online fashion platform, is shut down as well.

Krishnamoorthy has told his employees that the company is sound with its financials and employees need not worry about the impact of the lockdown. On the other hand, the Flipkart CEO see some silver lining in this hoping that the online business will tend to grow after this experience and it also offers the opportunity to them to strengthen the bonding with the local grocers. That arrangement may help with expanding the O2O format later. While Amazon has tied up with Big Bazaar and acquired the More supermarket chain, Reliance has its offline stores across the country. Flipkart is the odd player out in this and would want to develop its own network of retail outlets that can evolve into the last mile delivery management tool over time.

Not all those in the online trade are following what Krishnamoorthy has promised at Flipkart. Jobs are being lost and employees are being asked to take pay cuts.

The CEO’s address has come at the right time and will encourage the company’s employees to work more diligently at this time of crisis. Flipkart is trying to move the permitted essential products by using the railway freight system and for last mile deliveries, use cabs.

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