After more than ten years at the e-commerce company, Krishna Raghavan, chief people officer of Flipkart, has announced his resignation. After a 'long tenure' at Walmart-owned Flipkart, Raghavan has opted to go, a senior official at the company has confirmed. A different corporate executive stated that Flipkart would decide soon on the new HR head's replacement.
Prior to becoming chief people officer in 2020, Raghavan served as senior vice president of engineering, fulfillment, and services at Flipkart. Before joining Cleartrip as its chief technology officer, the Dension University alumni worked for the e-commerce company from 2012 to 2016. In 2017, Raghavan returned to Flipkart following a 10-month absence. His departure happens in the midst of Flipkart and Amazon's annual holiday promotions.
Flipkart launched a $700 million employee stock option (ESOP) buyback programme in November 2022. The e-commerce business, which employs over 15,000 people, claimed that the decision not to increase senior management's salary would not result in layoffs because there was a pay raise and promotion cycle the previous year, which was followed by a stock option buyback plan.
In order to achieve pay equity, it has also chosen to grant raises to close to 4,000 top managers. According to the corporation, this decision won't have an impact on attrition rates because its employees have received enough incentives, merit-based raises, and opportunity to build wealth.
Earlier, Flipkart had informed that it recorded a record 1.4 billion customer visits over early access and seven days of the shopping festival called 'The Big Billion Day Sale.'