Flipkart makes $700 million payout to employees following PhonePe split

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Flipkart makes $700 million payout to employees following PhonePe split

Flipkart commenced a $700 million “one-time discretionary” cash payout to employees on Friday, the single-largest such compensation in the Indian startup ecosystem. The Walmart-backed Bengaluru-headquartered startup is compensating employees for the separation of fintech PhonePe from the e-commerce group, a move that devalued Flipkart’s shares. The two firms completed a full ownership separation late last […]

Flipkart makes $700 million payout to employees following PhonePe split by Manish Singh originally published on TechCrunch

Flipkart makes $700 million payout to employees following PhonePe split

2023-07-14 22:02

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