Paytm offers support to IIM-A graduates that Flipkart rejected
FollowThe ongoing fracas between the Indian Institute of Management (IIM) and Flipkart, over the e-commerce major's decision to defer joining dates of graduates who were given job offers, has taken a new turn. In a swift move, Flipkart's competitor, digital payments and commerce platform Paytm, said it's extending support to these students said a report in the Hindustan Times.
"Recommendations started pouring in after some students could not join Flipkart. IIM-Ahmedabad also wrote to us and we have mutually agreed to conduct interviews and select the top talent from among these graduates. In terms of timing, it fits well with our requirements as some freshers from IIMs, XLRI, Indian School of Business are joining us in the coming days," Amit Sinha, VP at Paytm told TOI.
The Alibaba-backed Paytm is learnt to have hired about 50 students from leading business management institutes of the country so far. It has a total employee base of about 4,000 people.
Earlier, IIM-Ahmedabad had written to Flipkart expressing displeasure over the company's move to defer the joining date of its graduates who were given job offers from the etailer. IIMs are trying to resolve the issue by talking to Flipkart but the e-commerce major has said it is in no position to absorb the freshers before December this year. Flipkart has said it will pay a compensation of Rs 1.5 lakh which is also a point of contention between the two parties. Owing to fund crunch most of the startups have been wage costs in order to improve unit economics and shave off losses. Recruiting from prestigious campuses like the IIMs and the IITs was commonplace for Indian's leading startups over the past two years but with investors sounding a cautious note, these companies are now looking to become lean and streamline their new hiring.
