Flipkart’s Salary Revisions and Stock Options Allocation for 2023

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In response to the prevailing macroeconomic conditions, e-commerce giant Flipkart has decided to limit salary increments to 70% of its employees in 2023, affecting approximately 5,000 senior staff at Grade 10 and above.

Flipkart, the e-commerce behemoth, has charted out a strategic blueprint for its annual salary adjustments this year. Aiming to align with the prevailing macroeconomic conditions, the company has decided to focus on prudent resource management. In this light, approximately 70% of Flipkart’s workforce will witness an increase in their compensation.

The annual appraisal process has concluded, and salary increments are set to roll out from April 1. However, around 5,000 senior employees, specifically those at Grade 10 and above, will not receive these increments. Instead, these employees can look forward to other avenues of financial growth. The company has stated that bonus payouts and employee stock option allocations will proceed as planned.

Despite these changes, Flipkart remains committed to enhancing the value for its employees. This commitment is evident in their employee-centric policies, continuous skilling and training programs, regular promotion cycles, and wealth creation opportunities for ESOP holders. Moreover, employees will also continue to receive enhanced benefits, including medical insurance.

Flipkart, a company founded by Sachin and Binny Bansal, continues to make waves in the business landscape. Recent reports suggest that Flipkart, now owned by Walmart, is in talks to acquire a stake in Pharmallama, a Bengaluru-based healthtech start-up. This potential investment aligns with Flipkart’s foray into the healthcare sector in 2021, when it acquired a majority stake in SastaSundar Marketplace Ltd. This Kolkata-based company operates an online pharmacy and digital healthcare platform, SastaSundar.com. Additionally, through its venture capital arm, Flipkart Ventures, the e-commerce giant has invested in the healtech platform, BeatO.

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