08
Jan
Walmart-owned Flipkart has embarked on a retrenchment initiative that could reduce its total workforce by five to seven percent, according to a report in The Economic Times (ET). The move is part of the company's annual performance-based job cuts, which have been in effect for the past two years. The process is expected to be completed by March-April in line with the ongoing performance review and the end of the current financial year. The e-commerce giant, with 22,000 employees (excluding Mintra), has been proactively managing costs, including adding new hires over the past year. Currently, the company is finalizing a…