In the season of mass layoffs when employees are getting laid off, tables seem to have turned for Flipkart. As per a report, Flipkart’s top executives have exited the company amidst a reshuffling exercise at the company.
The buy-back of these come as a part of Flipkart’s move to separate full ownership of payments and PhonePe in order to reportedly retain more talent
In the season of mass layoffs when employees are getting laid off, tables seem to have turned for Flipkart. As per a report, Flipkart’s top executives have exited the company amidst a reshuffling exercise at the company.
According to a Moneycontrol report, Walmart-owned Flipkart is experiencing top-level departures. Adarsh Menon, Senior Vice President and Head of New Business, including Shopsy, Cleartrip and ReCommerce is planning to leave the company too.
The report adds that Menon assumed the current role about 10 months ago. Before this role, he was the senior Vice President and Head of Flipkart Wholesale and Walmart India for almost a year. However, having been associated with Flipkart for almost eight years, his reported exit comes as a major shock.
As per the publication, two other senior executives are also rumoured to be departing from Flipkart. This reportedly includes big names like Chanakya Gupta, Vice President, Strategic Partnerships and D2C Brand Accelerator.
Further, Ravish Kumar Sinha, SVP may also reportedly exit Flipkart. He was heading the Fulfilment Service Group and Central Functions Group.
The report of exit of top executives at Flipkart comes at a time when Utkarsh B., the chief architect also quit Flipkart after over a decade. These exits also reportedly come after Flipkart said that it would buy-back employee stock options (ESOP) worth about $700 million from employees.
The buy-back of these come as a part of Flipkart’s move to separate full ownership of payments and PhonePe in order to reportedly retain more talent.