Sachin Bansal was removed as CEO of Flipkart in January. He is now the chief operations officer.
Sachin Bansal, the chief operating officer at Flipkart, made a candid confession at a recent townhall meeting, not usually expected from the C-suites.
In a monthly townhall held in the company's headquarters in Bengaluru, Bansal, who was replaced as chief executive officer of the e-commerce portal by Binny Bansal, in January, said, even he his role was changed at the company because of performance evaluation.
Sachin Bansal's breezy confession came at a time when Flipkart recently announced that it was laying off about 300 employees as they had failed to meet the performance standards set by the company, causing much furore amongst the employees.
Bansal's statement was presumably made to allay fears amongst Flipkart's workforce, saying that even the top management and the executives were not spared from being evaluated on the basis of their performance and contribution to the company.
According to an Economic Times report, Bansal said, "Look at the top level around you. Everyone has changed. In fact, even I am gone. Some of our targets have been missed and everyone, including the top management, has paid the price." ET quoted persons present at the townhall who didn't wish to be named.
A statement was soon released by Flipkart, which said, "At Flipkart, we have an open and transparent culture. The town hall that we conduct regularly, is one of the pillars of this culture of openness. Our performance metrics are freely shared to encourage a collaborative environment. Anybody is free to ask any question, challenge existing norms and hold the leadership accountable for business and organisational metrics.
We believe this leads to an environment of trust, openness and respect, and is one of the building blocks of our organisation of the future. We are also probably the only large company in India to have this open and collaborative culture."
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