Image Credit source: Symbolic picture
JioMart Layoff 2023:In the coming days, one or the other big company is announcing that there will be layoffs on a large scale, let us tell you that now the information about the removal of more than one thousand people from Reliance Industries’ online wholesale platform JioMart has come to the fore. It has been mentioned in the media report that the company has recently acquired Metro Cash and Carry and the company is focusing on the operation of these companies.
The company has asked more than 500 out of 1,000 executives in its corporate office to resign in the last few days. Apart from this, an official told that the company has already put hundreds of employees on the Performance Improvement Plan ie PIP. Apart from this, other sales employees have been placed on variable pay structure.
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Retrenchment is part of cost cutting
The cuts are said to be carried out in the next few weeks in a bid to cut costs, which could reportedly include reducing the 15,000 workforce in the wholesale division by two-thirds. It has been said in the report that the company is planning to close more than half of its more than 150 audio fulfillment centers.
Let us tell you that the information about this has not yet come to the fore that in the coming time, the employees on whom the gaze may fall will belong to which department. But it is certain that the countdown of retrenchment has started in Geomart and planning for retrenchment on a large scale may also happen going forward.
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Five months and more than 2 lakh employees were employed
Let us inform that not only Geomart but if we talk about retrenchment in the tech sector, then only in these five months of 2023, more than 2 lakh employees have lost their jobs. There are still seven months left for the end of this year, in such a situation the danger of retrenchment can be seen further.
