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<keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> transferred more than 300 middle and lower-level employees, mainly from the technology, payments, cataloguing and seller teams, to the rolls of business process outsourcing firm Serco, primarily to pare operational liabilities. 

	"Flipkart's decision to outsource few roles is a strategic move which will help us scale faster and also grow the partner ecosystem around us," a company spokesman said in an email reply. "We believe that realigning the organisation to business priorities is critical for keeping pace with the dynamic environment that we operate in." 
 

	Transferring out noncore employees to the payrolls of a back-office outsourcing company is common practice in the information technology industry. 
 "When a company has too many people on its payroll, it gets difficult to handle from the compliance perspective," said <keyword id="2497542" type="UNKNOWN" weightage="60" keywordseo="Vaibhav-Parikh">Vaibhav Parikh</keyword>, partner at law firm Nishith Desai Associates. "For example, PF, insurance, gratuity, etc., takes a lot of effort from the HR perspective." Businesswise, too, such shifting out of personnel offers several advantages. "Once employees are on an outsourced payroll, they don't appear in the books of the company and, in turn, the revenue-per-employee is much higher, which is an important metric for companies," Parikh said. 

	Such outsourced employees also don't get stock options, experts said. That the transfers at Flipkart have happened amid a run of high-profile hires seems to be causing some consternation among employees. 

	"Executives have been asked to shift to this new agency right ahead of the appraisal cycle," said an employee who was informed on Thursday about his transfer to Serco, India's thirdlargest BPO. "Mostly these are executives in the lower- to mid-level management," he said, requesting anonymity. Flipkart said it has "rolled out a generous financial package, including a salary hike, for each one of them."
 The company has made several strategic hires in recent months including from <keyword id="6357722" type="COMPANY" weightage="60" keywordseo="silicon-valley">Silicon Valley</keyword>, to build new capabilities and establish its dominance in a sector fast overcrowding: Former <keyword id="6355629" type="CITY" weightage="60" keywordseo="Google">Google</keyword> product head <keyword id="278552" type="PERSON" weightage="60" keywordseo="Punit-Soni">Punit Soni</keyword> to head the products division under its commerce platform; former McKinsey director Saikiran Krishnamurthy as the chief operating officer of its commerce division; former head of engineering at Google, Peeyush Ranjan, as senior vice president; and earlier this week. 

	But it also needs to be leaner and nimbler to be able to effectively take on new startups as well as giants like Snapdeal and Amazon that are competing for the same target buyers. Flipkart employs about 33,000 people. 

	 
	 
	(image credits: Reuters)

This is where Flipkart is transferring hundreds of its employees

<ul><li><keyword id="9861237" type="UNKNOWN" weightage="20" keywordseo="Apna-co">Apna.co</keyword>, a professional network for India’s grey and blue-collar workers, has raised $8 million from existing investors <keyword id="1727428" type="PERSON" weightage="20" keywordseo="Lightspeed">Lightspeed</keyword> and <keyword id="270604" type="ENTERTAINMENT" weightage="20" keywordseo="Sequoia">Sequoia</keyword>.</li><li>The startup has already seen hirings from companies like Amazon, Swiggy, Dunzo, Grofers, Byju’s among others.</li><li>It is also accelerating efforts to help those who have lost jobs due to COVID-19. </li></ul><keyword id="198540" type="ORGANIZATION" weightage="20" keywordseo="APNA">Apna</keyword>.co, a professional network for India’s grey and blue-collar workers, has raised $8 million from existing investors Lightspeed and Sequoia. The series A funding round also saw participation from new investors Greenoaks Capital and Rocketship VC. Blue collar workers are professionals who earn hourly for their manual work, while grey collar workers refers to those who work beyond the age of retirement. In India, there are over 450 million people who come under the blue collar category alone. The ‘<keyword id="28120" type="CITY" weightage="20" keywordseo="Linkedin">LinkedIn</keyword>’ like <keyword id="9861236" type="UNKNOWN" weightage="20" keywordseo="jobs-platform">jobs platform</keyword> is building a community for workers like carpenters, painters and sales agents, to get local jobs, network, and also hone their skills. Founded by a former Apple exec, Nirmit Parikh, Apna. co says it has more than 1.2 million users and has facilitated over 1 million job interviews generated in the last 30 days alone. “Apna’s mission is to connect people with opportunities. We want to uplift the workers who form the backbone of the economy and provide them a platform to grow in their career,” said Parikh. India’s gig economy workers can take advantage of a platform like Apna. The startup has already seen hirings from companies like Amazon, Swiggy, Dunzo, Grofers, Byju’s among others. “There are over 250 million blue and grey collar workers in India at present and providing meaningful employment opportunities to this segment is one of the biggest challenges in our country. With internet usage in this demographic growing rapidly, further catalysed by the Jio effect, apps such as Apna can play a meaningful role in democratizing access to employment and skilling. Apna has built a unique product where users quickly come together in professional communities, an unmet need so far,” said Harshjit Sethi, Principal at Sequoia Capital India in a statement. With the latest investment, the startup plans to expand its offerings from the current five cities to several new markets. It is also accelerating efforts to help the millions who have lost jobs due to the COVID-19 pandemic. “The most powerful thing for me about Apna is its communities — I’ve seen people help each other start a business, learn a new language or find a gig! Communities rely on trust and make the model infinitely scalable,” said Vaibhav Agrawal, Partner at Lightspeed India Partners Advisors. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/microsoft-backed-fareye-sees-a-trillion-dollars-in-wasted-costs-across-the-global-supply-chain/articleshow/77864135.cms">INTERVIEW: Microsoft-backed FarEye sees a trillion dollars in wasted costs across the global supply chain</a> <a href="https://www.businessinsider.in/personal-finance/news/bank-loan-repayments-will-be-due-starting-today/articleshow/77865902.cms">Loan repayments will become due starting today — here are the options that borrowers have</a>

This startup – a LinkedIn like platform for India’s blue-collar workers – gets more funds from Lightspeed and Sequoia

If you think that starting a business is difficult, you have probably never met someone who had to close down his business. 
 
When it comes to wind up a company, there is much more that needs to be done other than laying off employees and closing operations. Since a company is a legal entity, closing it down involves several legal procedures, so that it can be taken off official records. 
 
One way to close a company by showing a year's record of no operations (revenue) and zero assets and liabilities, it will be struck off the RoC register, corporate lawyer Vaibhav Parikh told <a href="http://economictimes.indiatimes.com/small-biz/startups/how-to-wind-up-your-startup-without-any-hassle/articleshow/53388971.cms">ET</a>. The other, more complex and costlier legal route, involves meetings with creditors and going to court several times, which could take two to five years as per the complications. 
 The government has recently introduced different schemes to help people who are <keyword id="47929" type="UNKNOWN" weightage="100" keywordseo="winding-up">winding up</keyword> their companies, viz. the <keyword id="6375770" type="UNKNOWN" weightage="100" keywordseo="Bankruptcy-law">Bankruptcy law</keyword> and the notification of the National Company Law Tribunal, and it would probably replace the traditional that deal in company insolvency and disputes. 
 The move has come at the right time, since a lot of start-ups are <keyword id="3883964" type="UNKNOWN" weightage="100" keywordseo="closing-down">closing down</keyword> because of lack of funding. 
 
 
 
Parikh added that start-ups need not use the Bankruptcy law option if they do not have any debt, which is generally the case. "However, they may be able to take benefit of voluntary winding up. The objective is to limit the process to a shorter time frame of up to 90-180 days, but its effectiveness remains to be seen," Parikh said. 
 
Talking of voluntary winding up, it can be done by either members or creditors and that too without court supervision. After the process is complete, relevant documents are filed before the court so that a dissolution order can be obtained. However, the process is not as easy as it sounds. 
 
The expenses that one has to pay for closing down a company make one of the top reasons that companies prefer to remain dormant without legally shutting operations. As per Parikh, about 90% of the start-ups that close operations remain alive, while a majority of the remaining just strikes off their names from the RoC's records. 
 
<a href="http://bizna.co.ke/wp-content/uploads/2016/03/Closing-down-sign.jpg">Image source</a>

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This is where Flipkart is transferring hundreds of its employees

BI India Bureau

This startup – a LinkedIn like platform for India’s blue-collar workers – gets more funds from Lightspeed and Sequoia

Sanchita Dash

Here’s how you can wind up your start-up easily

BI India Bureau

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