Reliance JioMart to cut 11,000 jobs, report says

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JioMart, Reliance Retail’s online shopping platformIt has laid off more than 1,000 employees and plans to cut up to 9,900 more positions in the coming weeks, according to a report, as the Indian retail giant looks to improve its margins.

He shake, reported by the Indian newspaper Economic Times, comes in the wake of JioMart’s aggressive pricing strategy, which led traditional retailers to contemplate supply disruptions. However, now that the firm is focused on improving margins and reducing losses, the strategy appears to have changed, according to the report.

In addition, JioMart plans to close more than half of its more than 150 fulfillment centers that supply neighborhood stores. The closings coincide with the completion of Reliance Retail’s purchase of the Indian cash and transportation business of German retailer Metro AG for $344 million.

Reliance’s large involvement in India’s booming online B2B retail sector and the inclusion of Metro’s 3,500-person workforce are expected to create overlapping roles, prompting further change.