The retail sector, which attracted talent in droves till six months ago, is seeing an exodus of people. Retail majors, who had hired in droves during their expansion spree, are now keen to get rid of the flab to counter slowdown.
Vishal Retail, the retail chain, which runs stores mainly in Delhi has seen 300-400 people leaving its fold. Though this is not a big number in a labour-intensive industry like retail, it signals the beginning of a slowdown in jobs, according to retail industry experts.
“Around 300 to 400 people leave our organisation every month,” said Manmohan Agarwal, CEO, corporate affairs, Vishal Retail. “We consider this the normal rate of attrition which occurs due to a number of reasons.”
Future Group, however, has begun shuffling people among group companies. Around 200 people from Pantaloon Retail have been moved to other group companies. “We have moved 80 people from Pantaloon Retail to Future Learning and Development, which gives training for front-end staff,” said Sanjay Jog, head, human resources, Future Group. “Similarly, 65 people have been moved from Pantaloon Retail to Future Knowledge services while 35 people have been moved from Pantaloon Retail to Future Logistics.”
Leading retail companies are also not hiring in a major way. “Our size offers us the facility to leverage people within our network for larger number of stores. I will admit that recruitments have certainly slowed down,” said Jog.