Layoff in Reliance Retail
There is big layoff 50% in reliance retail - jiomart B2B business. Reasons Very poor management, aggressive hiring, creating business that does not exist, downfall of business. Compensation - Asked people to resign & said to serve notice 90 days. No additional support or benefit.
Heard from a friend in reliance in a senior role - there would be 6k layoffs. Jiomart and netmeds will get impacted.
Amazing this gets no media coverage
MonkeyWrench
Stealth
a year ago
Some of us are trying to cover this but we need concrete sources and/or evidence. If you know anyone who'd be willing to speak (I know it's a sensitive issue for many) reach out to me at [email protected].
Why would anyone would trust you? The news here is confirmed. Ajio B2B fired all Sales Officer last month. Jio Mart B2B fired all sales staff earlier. Netmes fired all sales staff. Ajio B2B CEO Resigned. All true.
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HappyFeet92
Stealth
a year ago
This was 1-2 months back no?
Cookie
Student
a year ago
They have denied
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Funny thing is jiomart b2b is a ecommerce business.
Whose management has little to no ecommerce exposure/experience.
With this management they tried to digitalize the most unorganised sector - kirana , most of them who don't give orders on phone.
A business where no ready made tech solution was available in market.
In a business which was risky, instead of slowly building their capabilities and testing markets & innovating,
These guys went on full on aggressive capital burning, high discount, many many cities types of expansion based on whatever tech, resources they had-- totally mindless to be honest.
Now in the end. Due to global factors (rising interest rates), desire of retail IPO & requirement of higher margin/profits by parent (reliance retail).
Inflow of capital, discounts , aggressive hiring of sales (who connect with kirana and put orders), No logistics/ delivery charges. All stopped suddenly
In the end the business almost collapsed to 75% and resulting in this layoff.
Learnings: Always do due diligence of business (no matter if its a larger group) before signing on.
Problem is its an experiment and not a business. Which with high probability will fail
In the end its a startup like risk with peanuts salary/perks ( top management is exception they get paid very heavily) & no ESOP's / shareholding.
Very low returns and very very high risk.
Avoid such companies 👍
You wrote a medium article, I appreciate haha
But yeah, if it ain't Amazon, it'll probably not survive the next decade 😂
The best perks in working for Reliance is only flat 33% discounts on Ajio sadly. This was confirmed from an old employee and they were already expecting it.
Randomization
Stealth
a year ago
Ajio B2B also layoffs?
The old employee worked in B2B so I am only aware about B2B Jiomart. (Please note that the old employee left few months ago and got know know from current employees)
Randomization
Stealth
a year ago
Well, I appeared for an interview with AJIO B2B and was not selected, guess your bad luck does save you from your worse.
Anyways, Motabhai&Co, doesn't resort to layoffs.
NanOrNull
Stealth
a year ago
Same . I never exected mota bhai would do layoffs .
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Barbaadeshwar
Stealth
a year ago
Came here for this.
Reliance retail does not have 90 days notice period for any employee
Jiomart is worst business from Reliance, as a customer I always avoid it
Saw this right now. Over 10000 ppl
https://thearcweb.com/article/b2b-tests-even-reliance-retail-layoffs-may-exceed-10000-pnpsr9nmEXRV8Abz
MonkeyWrench
Stealth
a year ago
If anyone has confirmed information, I'd love to hear from you at [email protected]
Layoff is majorly happening in field sales team for all b2b formats under retail arm
Ajio B2B remaining sales team got till June/July. All B2B vertical of Reliance is firing and closing the business vertical
well netmeds did a round of heavy layoffs recently , don't think more is coming afaik. Could be wrong though
If anyone here need authentic information kindly share Genuine Media mail ID like Ken or Morning star or Mainstream media. Not protean mail ID which everyone knows could be anyone.
There is risk involved for the concerned here.
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