Flipkart co-founder Sachin Bansal, who was replaced by Binny Bansal, with whom he established the e-commerce company, started a Twitter war on Monday when he admitted he was ousted for poor “performance”.
Bansal made the disclosure at a townhall at Flipkart on Friday, apparently to assuage the feelings of employees who had been laid off. According to a media report, the townhall was getting agitated with the staff questioning why they were having to pay for poor management decisions. Bansal’s candid admission drew applause and the mood quickly changed, said people present at the meeting.
Twitterati were divided over the statement. Several users praised the executive for owning up to his underperformance, but there were others who questioned the rationale of why he still had a position in the company.
For example, Shankar N said “I guess @sachinbansal & @flipkart are setting the right work examples for us” #indians. But Vinay Raju (@garam_hawa) was unsparing when he tweeted “The same gang of people who led Yahoo India down are now VP & above in Flipkart & Ekart. GoFigure!! Sinha & Vikaram.”
Cynics even noted that this was a “Nice way to lay off employees. Give them “motivation” lollipop and show the exit sign” as Ruchi Shukla @ruchikom) put it.
Ruchi Shukla @ruchikom
Nice way to lay off employees.Give them "motivation" lollipop and show exit sign. Flipkart co-founder Sachin Bansal admits he was replaced due to performance - TOI Mobile | The Times of India Mobile Site …
While Bansal may have been guilty of “poor performance” in the boardroom, there is little doubt that his performance at the townhall has given the company breathing space while it struggles with cost cutting and downsizing. The last word will surely come from social media critics. Perhaps this can be one:
As TES Entrepreneur @tesentrepreneur) noted, “Bein a #Founder doesn’t spare you the KITA Kick in the A$$. Performance matters everywhere. Even more in a …
TES Entrepreneur @tesentrepreneur
Being a #Founder doesn't spare you the KITA. Kick in the A$$.
Performance matters everywhere. Even more in a... Sachin Bansal admits he was replaced due to performance - The Economic Times