Walmart-owned e-commerce giant Flipkart is grappling with declining employee morale and an exodus of senior leadership, with at least eight to ten executives at the vice president and senior vice president levels having resigned in recent months. [1, 2] The departures coincide with growing frustration within the company over its long-delayed initial public offering.
The core issue stems from the lack of a clear timeline for an IPO, which prevents employees from cashing in on their valuable stock options. [1, 3] This uncertainty is compounded as Indian rivals like Swiggy and Meesho have gone public, creating significant wealth for their employees and increasing the pressure on Flipkart's leadership. [2, 17] In response, Flipkart is reportedly considering another ESOP buyback to provide some liquidity. [4, 15]