Mumbai: Major layoffs have taken place in JioMart under the leadership of Mukesh Ambani. It is being told that the company has laid off more than one thousand employees. Recently JioMart has acquired Metro Cash and Carry business to operate in India. After the deal, the company decided to downsize. According to reports, the company is considering mass layoffs in the coming days.
1,000 people, including 500 officers from the corporate office, were asked to resign
According to a report, this is just the beginning of job cuts at JioMart. JioMart is planning to lay off a third of its 15,000 employees in the coming years. According to reports, JioMart has asked 1,000 people, including 500 executives from its corporate office, to resign in the past few days. After Metro Cash & Carry added 3,500 permanent employees, there is an atmosphere of fear among the employees in the company. As a result, the company is looking to improve margins and reduce losses. However, no official statement has come from the company yet.
Reliance eyes on the FMCG sector
Reliance Retail has acquired the Indian business of Metro Cash & Carry for Rs 2850 crore. The company has also got approval. Metro Cash & Carry has a reach of 3 million customers in India. Currently, Reliance Industries is gearing up to expand its footprint in the FMCG sector. After acquiring Metro Cash & Carry, Reliance Retail will operate Metro stores in cities such as Amritsar, Ahmedabad, Bangalore, Delhi, Ghaziabad, Guntur, Hyderabad, Hubli, Indore, Lucknow, Kolkata, Mumbai, Nashik, Surat, Visakhapatnam and Vijayawada.
