Flipkart, India’s leading e-commerce platform, has recently announced that nearly 5,000 of its senior staff will not receive any pay hikes this year. This news has come as a shock to many of the employees, who were expecting a salary increase.
The company has cited the current economic climate as the reason for not giving out any pay hikes. Flipkart has been facing a difficult time due to the pandemic, and the company has had to make some tough decisions in order to stay afloat.
The company has also said that it will be focusing on rewarding its employees through other means, such as stock options and bonuses. This is in line with the company’s strategy of rewarding performance rather than just giving out salary hikes.
The news has been met with mixed reactions from the employees. While some are disappointed with the decision, others are understanding of the company’s situation. Many employees have also expressed their appreciation for the company’s efforts to reward performance.
Flipkart’s decision to not give out any pay hikes this year is a reflection of the current economic climate. The company is trying to stay afloat in these difficult times, and it is understandable that it has had to make some tough decisions.
However, it is important to note that the company is still rewarding its employees in other ways. This shows that the company values its employees and is willing to reward them for their hard work.
Overall, Flipkart’s decision to not give out any pay hikes this year is a reflection of the current economic climate. The company is trying to stay afloat in these difficult times, and it is understandable that it has had to make some tough decisions.