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HomeBusinessFlipkart gives 100% bonus to employees and merit-linked payouts | Company News

Flipkart gives 100% bonus to employees and merit-linked payouts | Company News

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 merit-linked 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.”

“At Flipkart, we have always prioritized what’s right for both our employees and organization at large, and this compensation review cycle is in line with this intention. We are providing compensation increases to employees getting promoted, merit linked payments and bonus payouts. Additionally, our stock option allocation exercise will continue as is, for those who are eligible,” said the company.

First Published: Mar 21 2024 | 9:50 PM IST

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