phonepe news: Nearly $700 million cash payout in store for Flipkart employees after PhonePe hive off
As the
Flipkart-PhonePe separation process was formally announced on Friday, Flipkart group chief executive Kalyan Krishnamurthy sent a note to employees, informing them of “a one-time discretionary cash payout as part of the transaction” that will come their way.
Employees who hold stock options in Flipkart will be paid cash equal to the value of PhonePe within those holdings, as the digital payments platform is no longer a part of the ecommerce company. “This payout will present an event for wealth creation for our…