At a time when the e-commerce sector in India has come under a cloud over layoffs, etailer major Flipkart has taken a big step to retain its high-performing employees. (Read)
Flipkart is believed to have sold a marginal stake in its employee trust fund to high net worth individuals (HNIs) for around Rs 180-240 crore, according to media reports. The move will enable staff with employee stock options (ESOPs) to monetize their holdings.
So while Zomato's employees are demotivated and food tech cos are firing / shutting down, Flipkart esop holders got a nice chunk of cash
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