Flipkart, the e-commerce platform owned by Walmart, has reportedly reshuffled executives at the vice-president level in some categories. The firm’s senior vice president, Ravish Sinha, has resigned, according to a report in The Economic Times (ET). Before assuming the position of SVP of supply chain, Sinha worked for the company for 8 years as the VP of engineering.
On January 30, an internal note was distributed to all firm employees informing them of the changes. An executive claims that the business rotates its vice presidents every three years. Executives can now lead various businesses thanks to this. Many of those who changed roles have already begun to assume obligations.
According to ET, Jagjeet Harode, who previously served as VP of Marketplace, will now lead the large appliance business unit. He will report to Hari Kumar, who is in charge of the electronics category.
Rakesh Krishnan, vice president of electronics, will take over as CEO of the marketplace.
The company is also facing a cash crunch. It announced in February that there will be no raises for the top 30% of employees from January to December 2022. It is expected to have an impact on 4,500 employees.
Given the current macroeconomic situation, we want to be prudent in managing our resources while keeping our employees’ best interests in mind,” Flipkart CPO Krishna Raghavan wrote in an email to employees.
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Quick, the company’s grocery delivery service, has also reportedly been scaled back. It will now solely deliver fresh groceries.
Flipkart Quick is not closing; it has scaled down from a few cities and continues in a couple of cities as we build a sustainable business model in Quick commerce that is focused on fresh groceries,” the company told ET.
