InvestorQ : What could be the implications of Shoppers Stop laying off 1000 people for the stock price?
Aashna Tripathi made post

What could be the implications of Shoppers Stop laying off 1000 people for the stock price?

Answer
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Tisha Malhotra answered.
3 months ago


With the COVID-19 lockdown resulting in huge losses for malls and retailers, Shoppers Stop has no choice but to lay off 1100 employees. As part of the restructuring, Shoppers Stop will also close underperforming stores. This includes 100 people being laid off from the head office in Mumbai. With business declining, the company had no choice other than layoffs. Shoppers Stop had 7500 employees on its rolls.