FoodIN

Milkbasket Layoffs

July 2023

Milkbasket announced a layoff affecting 400 employees (67% of its workforce) in July 2023. The company operates in the Food sector.

People Affected

400

Percentage

67%

Announced Date

Jul 27, 2023

About

Milkbasket, a subscription commerce firm acquired by Reliance, is reportedly laying off approximately 400 employees, which represents about two-thirds of its total workforce of roughly 600. This significant reduction, occurring in late July 2023, includes the entire offline marketing, sales, and head office teams. The layoffs are part of a broader integration with Reliance's JioMart platform, which is phasing out the Milkbasket brand in favor of a new 'Jio Smart Daily' service. Despite Reliance's official denial of layoffs, citing only role realignments, sources indicate that many employees are being asked to resign, with only a portion expected to be absorbed into other group companies like Reliance Stores and Bazaar. This restructuring follows the recent exits of top executives and reflects the ongoing consolidation within the e-commerce and retail industry under Reliance's umbrella.