Flipkart makes $700 million payout to employees following PhonePe split

Flipkart commenced a $700 million “one-time discretionary” cash payout to employees on Friday, the single-largest such compensation in the Indian startup ecosystem.
The Walmart-backed Bengaluru-headquartered startup is compensating employees for the separation of fintech PhonePe from the e-commerce group, a move that devalued Flipkart’s shares.
The two firms completed a full ownership separation late last year in a deal that was structured to allow shareholders in the Singapore entities of both firms to purchase shares directly in PhonePe’s India entity. PhonePe, in addition

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