An Indian e-commerce company, JioMart fires 1,000 employees and more than 9000 jobs at risk that can be laid off in the coming weeks.
This comes after the company aims to align its operations with Metro Cash and Carry that it acquired recently.
The job cuts at JioMart will be part of a larger cost-cutting measure and will be impacted over the next few weeks. According to the reports, there has reportedly been an overlap of roles both at the backend and online sales operations. These overlapping roles may get impacted.
The company has announced its intention to shut down more than half of its 150-plus fulfillment centers that supply groceries and general merchandise to local neighborhood stores.
An official said, “The company has asked over 1,000 people on the 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).”
“Rest of the sales employees have been put on variable pay structure after Reliance lowered their fixed pay salary,” he added.
Many companies are laying off employees due to economic uncertainties. However, layoffs are part of a larger trend of tech companies cutting jobs and slowing hiring as investors become increasingly fearful of a recession. Tech companies have either frozen the hiring process or laid off many employees.
Recently, the consulting giant Accenture shocked the industry by announcing its plan to trim its workforce by 19,000 globally including India over the next 18 months.
Amazon sacked 27,000 employees in the last three months. Recently, the company announced to layoff of 9000 employees. The major companies that laid off employees include Infosys, Amazon, Google, Byju’s, Wipro, and Salesforce laid off a maximum number of workers globally.
So far in 2023, there have been 977 layoffs at tech companies with 301,991 people impacted (2,112 people per day). In 2022, there were 1,557 layoffs at tech companies and 243,318 people impacted (667 people per day).
