Flipkart Layoff [2016] : About ~1000 Employees May Get Fired

While the news of FK-Myntra acquiring Jabong is hot; Flipkart is now planning to layoff about 1000 employees belonging to Sr. Management. The Economic Times has reported that the company calls this as 'Cleanup' process. The company is said to be focused on cutting down its monthly spend to $40 million from current ~$100 million.

Does anyone know further details about what's happening at Flipkart? Please share.