Flipkart announced cash payments to employees leaving PhonePe

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After completing its separation process from PhonePe, Flipkart announced a cash payout for the employees parting from PhonePe.

A spokesperson for Flipkart confirmed the development to Inc42, but the payout amount could not be determined. Just after the PhonePe separation process was completed in the morning, Flipkart reportedly sent an internal note to its employees informing them of a one-time voluntary cash payout. “This payout represents the value of the PhonePe holding within those Flipkart options,” said Flipkart CEO Kalyan Krishnamurthy in a note. The news comes just days after Flipkart announced that it had completed the separation of online payment platform PhonePe.

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Flipkart announced cash payments to employees leaving PhonePe

After completing its separation process from PhonePe, Flipkart announced a cash payout for the employees parting from PhonePe.

A spokesperson for Flipkart confirmed the development to Inc42, but the payout amount could not be determined. Just after the PhonePe separation process was completed in the morning, Flipkart reportedly sent an internal note to its employees informing them of a one-time voluntary cash payout. “This payout represents the value of the PhonePe holding within those Flipkart options,” said Flipkart CEO Kalyan Krishnamurthy in a note. The news comes just days after Flipkart announced that it had completed the separation of online payment platform PhonePe.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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