Business Standard

Flipkart gives 100% bonus and merit-linked payouts to staff

- PEERZADA ABRAR

Amid a downturn in the technology sector, Flipkart is giving 100 per cent bonus to all employees and rolling out merit-linked payouts to eligible staff. The Walmart-owned e-commerce firm is getting up this initiative for most of the workforce of about 22,000.

“On behalf of the Management Team, I am pleased to announce that we have decided to keep the 2023 company multiplier at 100 per cent for all employees (including vice presidents and senior vice presidents). This is to recognise the quality of performanc­e and effort by all of you,” said Flipkart Group Chief Executive Officer Kalyan Krishnamur­thy in a letter addressed to the employees and a copy of which Business Standard has reviewed.

A source said all employees would get the bonus with the March salary.

“Also, this bonus varies based on the compensati­on package and performanc­e of the staff.”

The person said this was an annual exercise. What differenti­ates it is that the number of employees receiving increments this year will be higher than last year. However, the amount is not known.

Industry sources said Flipkart rolling out the bonus and meritlinke­d payout reflected the strong growth the e-commerce firm was witnessing.

In the letter, Krishnamur­thy said 2023 had been a strong year for Flipkart. It scaled up and launched categories and products for customers and continued to innovate in its pursuit of empowering every Indian consumer.

“In 2024, we look forward to identifyin­g and taking on new opportunit­ies with even more zest and agility, with the intention of creating the most positive impact on the ecosystem,” said Krishnamur­thy. “We have made strategic investment­s while managing costs, and the management team and I are grateful for your contributi­ons and support.”

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