24 May 2023, Mumbai
Reliance Retail, led by Isha Ambani, has laid off over 700 employees from its B2B vertical, Jio Mart, following the integration of German retailer Metro AG's Indian cash & carry business.
The acquisition led to overlapping roles and functions, resulting in the retrenchment of Metro employees. Reliance Retail is also reviewing the roles of employees in other verticals and placing hundreds of employees on performance improvement plans.
Additionally, the company has asked members of the sales team to transition from a regular monthly salary to a commission-based model, where their earnings are based on sales performance.
These changes are part of the annual appraisal process. Reliance Retail, with approximately 400,000 employees, including those from Metro Cash & Carry India, did not respond to requests for comment.