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.