Flipkart demotes Walmart India executives in merged entity
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Flipkart – which was acquired by Walmart for $ 16 billion in 2018 – launched its wholesale unit in August with categories like fashion and grocery.
Synopsis
“Flipkart said all Walmart's vice presidents will be made directors, and all employees have been told that the role redesignation letter will come by December 3 and people have the option of accepting the offer within five days or take three months’ severance pay to quit,” one of them said.
By Sagar Malviya, ET Bureau
3 mins read, Last Updated:
Mumbai: Nearly four months after acquiring Walmart India's wholesale operations, Flipkart in a town hall on Thursday announced its cash-and-carry business will largely be technology led, and relegated senior Walmart officials to lower ranks in the merged entity, two officials told ET.“Flipkart said all Walmart's vice presidents will be made directors, and all employees have been told that the role redesignation letter will come by December 3 and
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