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Bengaluru, India – July 13, 2023 – Flipkart, India’s leading e-commerce company, has announced that it will be paying out $700 million in employee stock ownership plan (ESOP) payouts to its current and former employees.
The ESOP payout is part of Flipkart’s $3.6 billion acquisition by Walmart in 2018. The payout will be made to employees who were granted ESOPs between 2014 and 2018.
“We are delighted to announce this ESOP payout to our employees,” said Kalyan Krishnamurthy, CEO of Flipkart. “This is a testament to the hard work and dedication of our team, and we are grateful for their contribution to Flipkart’s success.”
The ESOP payout is the largest in the history of Indian e-commerce. It is a significant windfall for Flipkart’s employees, and it is a sign of the company’s commitment to its employees.
Here are some additional details about the ESOP payout:
- The payout will be made to over 100,000 current and former employees.
- The average payout per employee is expected to be $70,000.
- The payout will be made in installments over the next few years.
What do you think about the ESOP payout?
I think the ESOP payout is a great way to reward Flipkart’s employees for their hard work and dedication. It is a significant windfall for the employees, and it is a sign of the company’s commitment to its employees. I am sure that the employees will be very happy with the payout.
