Employees at Flipkart benefit from the one-time 700-million-dollar cash payout
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With its one-time cash payout of 700 million dollars, the Walmart-owned e-commerce firm Flipkart would benefit at least 25,000 current and former employees, according to sources.
As a result, Flipkart will become one of the most significant examples of wealth creation in India's thriving start-up sector. Last week, Flipkart revealed that it would pay up to 700 million dollars in one-time discretionary cash payouts to over 25,000 of its past and current employees who hold employee stock options.
The top 20 Flipkart employees, who were among the company's first and most experienced employees, will receive up to 200 million dollars of the compensation, sources told Moneycontrol.
One of the largest wealth-creation opportunities in the country has been provided by the private sector to date to Flipkart's employees.
Software giant Infosys led the way in employee stock programmes among publicly listed companies, rewarding non-founder employees with around 19% of outstanding equity, or roughly Rs 1.3 lakh crore.