Sachin Bansal's Navi Technologies lays off 20% employees: Reports
1 year, 5 months ago

Sachin Bansal's Navi Technologies lays off 20% employees: Reports

Hindustan Times  

Navi Technologies, a non-banking financial company founded by Sachin Bansal, who earlier co-founded Flipkart, has reportedly laid off 20% employees, with the number of impacted staffers estimated to be around 200. Navi Technologies co-founder Sachin Bansal The layoffs commenced on Tuesday and will conclude at the end of the first half on Friday, the publication reported citing a source, who added that ‘no department is left untouched.’ ‘Let go without severance’ A person who was relieved by the Bengaluru-based startup on the very first day of the ongoing layoffs, revealed no severance package was offered; this, he said, was due to the company’s new HR rules. Meanwhile, a member of the recruitment team claimed the top management already had plans of downsizing, and the HR rules were ‘tweaked’ to ensure that ‘not much severance’ will have to be paid. Navi Technologies The NBFC startup was founded in 2018, months after Bansal left Flipkart following the e-commerce giant’s $16 billion acquisition by Walmart.

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History of this topic

Sachin Bansal on his fintech startup Navi after Flipkart: ‘Working 80-100 hours a week, no WFH’
8 months, 3 weeks ago

Sachin Bansal on his fintech startup Navi after Flipkart: ‘Working 80-100 hours a week, no WFH’

Hindustan Times  

Flipkart co-founder Sachin Bansal talked about his fintech startup Navi and said that he is putting in 80 to 100 hours a week. He also said that he can even be found working on the weekends quite often, adding, “Sometimes people hate me.” Sachin Bansal founded Navi in 2018, just months after quitting Flipkart. Flipkart co-founder Sachin Bansal talked about …

Sachin Bansal-led Navi Technologies Gets SEBI Approval to Launch IPO; Know Details
2 years, 3 months ago

Sachin Bansal-led Navi Technologies Gets SEBI Approval to Launch IPO; Know Details

News 18  

Flipkart co-founder Sachin Bansal’s Navi Technologies Limited has received a green signal from the Securities and Exchange Board of India to get listed on the bourses via an initial public offering. In its Draft Red Herring Prospectus or DHRP, filed in March, Navi Technologies had sought to raise up to Rs 3,350 crore through a fresh issue of shares. According …

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