JioMart Layoffs: JioMart, the e-commerce platform of Reliance Industries, has laid off employees on a large scale (JioMart Layoff News). According to the report published in Economic Times, the company has shown the way out to more than 1000 employees. The company’s decision to lay off comes after the acquisition of the recently bought company Metro Cash and Carry. It is worth noting that Geomart is preparing for further layoffs.
More employees will fall on the job
According to the report published in the Economic Times, a total of more than 15,000 employees work in Geomart, in which at least two-thirds can be cut. In such a situation thousands of employees may be affected. However, make it clear that till now Reliance Retail has not given any statement on this matter. Significantly, to meet its expenses, the company is showing the way out to the employees on such a large scale.
employees asked to resign
Geomart has asked a total of 1,000 employees, including more than 500 people from its corporate office, to resign in the last few days. Along with this, the company has already placed hundreds of employees on the Performance Improvement Plan for retrenchment. In such a situation, on the basis of performance through this, the company will do further planning.
The company took this step to cut costs
Geomart has also decided to reduce the fixed pay salary of many employees in order to cut down on its expenses. These employees have now been placed on variable pay structure. Along with this, the company has decided to close more than half of its fulfillment centers to reduce losses. It is worth noting that the company has more than 150 fulfillment centers across the country, which work to continue the supply in grocery stores.
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