Reliance’s JioMart cuts 1,000 jobs, there may be more ‘bad news’ coming

After starting a distribution price war last year, Reliance Industries’ online wholesale format JioMart has reportedly laid off more than 1,000 employees. According to a report in Economic Times (E), the job cuts at the company come as it aligns operations with the recently-acquired Metro Cash and Carry.

“The company has asked over 1,000 people on ground including 500 executives at its corporate office to resign over the past few days. It also plans to have another large round of layoffs with hundreds of employees already put on a performance improvement plan (PIP),” an official told the publication. “Rest of the sales employees have been put on variable pay structure after Reliance lowered their fixed pay salary,” he added.

Job cuts are part of cost-cutting drive
The job cuts are said to be part of a larger cost-cutting measure over the next few weeks.