After the exit of Flipkart co-founder Binny Bansal, the online retailer is following a new mantra of cutting costs, streamlining manpower and bringing down redundancies as a result of the step taken by the US retailer Walmart after the acquisition, Business Standard reported, citing sources.

The retailer is planning to shed 'excess manpower', the sources told BS on Monday. The estimated employee strength of the company, i.e the permanent and the contractual, can come down by 1,500 by next year, said the report.

According to the report, the total staff strength of the Indian retailer is 50,000 of which around 12,000 are permanent.

The US retailer is also planning to do away with some of the projects started by the co-founders Sachin and Binny Bansal, added the report.

Flipkart may also shut down some of its existing divisions. Kalyan Krishnamurthy, Flipkart CEO, is spearheading the changes, the report said.