Reliance Retail cuts 1,000 jobs; more downsizing in offing

MUMBAI: Reliance Retail has axed around 1,000 people even as it mulls another round of job cuts in the near future, as per a news report.

Jio Mart has asked its ground staff 500 executives at its corporate office and an equal number of ground staff to resign in recent time. Another massive round of layoffs is proposed while many employees have been already put on a performance improvement plan, the report said.

Furthermore, as part of a restructuring exercise, the company has a plan to cut around 10,000 jobs from the wholesale division over the next few weeks, the report added.

Meanwhile, entertainment giant Disney has started its third round of layoffs that will affect over 2,500 employees across the board, the media reported.

It began removing dozens of titles from its streaming platforms this week. According to the report, the television division, which was hit hard in the second round of job cuts, is largely spared this time with a small number of layoffs.