India’s largest e-commerce firm Flipkart.com has deferred by six months the joining date for graduates of the Indian Institutes of Management (IIMs) to whom it made job offers, as the company looks to cut costs amid a funding crunch.
The move may hurt Flipkart’s brand image as an employer during campus hiring in the years to come. The prestigious IIMs are considered the most important recruiting ground for companies.
Mint reported this month that Flipkart, which has been struggling to raise fresh funds, has slashed hiring along with spending on discounts and marketing. Apart from hiring a few senior leaders, Flipkart has reduced hiring to a trickle over the past two months in order to save costs, Mint reported on 6 May.