Indian Institute of Management graduates who were selected by Flipkart during the campus placement are facing a harrowing time. Flipkart, which is trying to trim its expenditure, had deferred the joining dates of the candidates.
Agitated by Flipkart's decision, recruits from India’s premier prestigious management institute has sent a strongly-worded email to the company. The letter, addressed to Chief Executive Officer Binny Bansal, Chief People Officer Nitin Seth and Executive Chairman Sachin Bansal among others, said that the delay in joining dates should be shortened.
They have also stated that the compensation of Rs 1.5 lakh offered by Flipkart was "utterly unacceptable." The have urged for a monthly payment as compensation, starting June and not a lump sum amount as joining bonus or arrears as students need to repay loans.
The students also claim that they had missed a lot of other offers because they were selected for the company.
"Flipkart came in February and offered jobs to 18 students. The students were informed that the joining date is June. But now, they are saying they want to defer the date. Students have left many good job offers because of this job. We tried to contact the Flipkart but got no response," IIM-Ahmedabad placement committee chairperson Asha Kaul said.
Flipkart is in the process of restructuring the company and is also reportedly cutting down on its costs.
"Flipkart told us that the delay was because there was a corporate restructuring in progress. It has to play by the rule. Let us see how this moves forward. They should have informed the students about the restructuring during the hiring process itself," Kaul added.
According to a report in the Economic Times, Flipkart told the placement cells and campus hires that the company has been restructuring its businesses and the new recruits will start working toward larger company goals from "day one" but it will take time so the dates have been deferred.
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