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JioMart Layoffs: JioMart, the e-commerce platform of Reliance Industries, has laid off employees on a large scale (JioMart Layoff News). According to a report published in the Economic Times, the company has shown the way out to more than 1,000 employees. The company’s decision to lay off comes after it recently acquired Metro Cash & Carry. It may be noted that Geomart is preparing for more layoffs.
more staff will be hired
According to a report published in Economic Times, JioMart employs a total of over 15,000 employees, out of which at least two-thirds of the workforce is likely to be cut. In this situation, thousands of employees can be affected. However, make it clear that till date no statement has come from Reliance Retail on this matter. The special thing is that the company is laying off employees on such a large scale to meet its expenses.
employees asked to resign
JioMart has asked a total of 1,000 employees to resign in the past few days, including over 500 people from its corporate office. Along with this, the company has already laid off hundreds of employees on performance improvement plans. In such a situation, the company will make further plans based on its performance.
The company has taken this step to cut costs.
Geomart has also decided to reduce the fixed salary of many employees to cut down on its cost. These employees are now placed on variable pay structure. Along with this, the company has decided to close more than half of its fulfillment centers to reduce losses. Significantly, the company has more than 150 fulfillment centers across the country, which work to maintain supply to grocery stores.
bt group layoffs
BT Group Layoff: Till now IT and tech companies were doing layoffs but now telecom companies are also going to do layoffs. United Kingdom-based telecom company BT Group has decided to lay off 55,000 employees.
BT Group said on Thursday that the decision to reduce the number of employees has been taken in view of the restructuring and cost reduction of the company. BT Group to lay off 55,000 people over the next decade. The company has a total of 1,30,000 employees ranging from employees to contractors. BT Group has said in its latest report that the company plans to reduce its workforce from 75,000 to 90,000 by 2030. The company’s CEO, Philipp Jensen, said the company would hire fewer employees by the end of the decade to cut costs. The new BT group will be smaller and have a bright future, he said.
Earlier, UK’s telecom company Vodafone had also announced that the company would lay off 11,000 employees. Vodafone operates in Europe and Africa. BT Group says it will not need such a large workforce following the full rollout of fibre-optic broadband and 5G service.
After the global economic crisis, inflation and economic growth slowed down, companies are constantly working to reduce their costs. Tech and telecom companies have laid off thousands of employees in the last few months. Companies like Google, Microsoft, IBM, Facebook, Twitter, Amazon have laid off thousands of employees. These companies are also troubled by expensive debt. The Fed Reserve continues to raise interest rates.
