Flipkart Lay off 700 Employees

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Flipkart has already shown the door to around 700 employees. The move comes after Snapdeal, Zomato, Grofers, Housing, TinyOwl and a host of others had laid off staff.
Companies say they are letting go of their poorest performers based on periodic assessments. Employees say the layoffs have more to do with the fund crunch at startups than performance. Some allege companies are adopting unprofessional ways of getting people to leave so that they don’t have to compensate those being laid off.
An employee at a startup said he was stunned when he was suddenly handed over a new set of performance goals, which were tough to meet. A week later, he, along with some 150
others, were asked to leave the company for non-performance.
An employee at another company had a similar story. He said he was being appreciated for meeting 60% of his targets. But suddenly his manager told him he needed to hit 90%.
Flipkart said when employees do not meet the performance bar, the company works with them closely to help them improve their performance.
Snapdeal said all team members have clear measurable goals, which are discussed between them and respective managers.
Those laid off are also invariably given significant compensation normally a minimum of three months’ salary. Kelly Kamath, MD-India of recruitment consultancy Kelly Services, says arbitrary methods are adopted partly because of the immaturity of founders.

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