It also plans to have another large round of layoffs with hundreds of employees already put on performance improvement plan (PIP),” one of them said.“Rest of the sales employees have been put on variable pay structure after Reliance lowered their fixed pay salary,” he added.Reliance’s business-to-business (B2B) format replaces traditional distributors for kirana stores. “They hold the margins in the supply chain very tight and hence prevent new entrants. It also offers lower pricing compared to other distributors, better service level to onboard kiranas on to the B2B platform and credit for working capital. Its kirana digitisation strategy helps brands reach merchants and better analytics.During 2022-23, Reliance Retail expanded its physical store network with over 3,300 new store openings, taking the total store count at the end of the year to 18,040 stores. The company also scaled up supply chain infrastructure with an addition of 12.6 million sq ft of warehouse space during the year.

Source: Economic Times May 23, 2023 05:01 UTC