MUMBAI: India's oldest department store chain Shoppers Stop is planning to lay off over 1100 employees as well as shutting some of its lower-performing stores owing to the drop in sales. 

A company spokesperson shared with Economic Times that the declining business has resulted in employee layoffs, further mentioning that considering the limitation on adding new stores in the current situation, the size of the brand’s business is effectively reduced, leaving them with no other option but to let go of employees in order to adjust the company’s cost base.

It has been reported that around 15 percent of the 7500 staff strength, mostly comprising junior and mid-level workers, have been asked to resign by 15 June. 

Apparently, these include over 1000 employees from the front-end operations and nearly 160 belonging to the back-end processes.

All the affected employees will be given their salaries for two months on an immediate basis.

While Shoppers Stop confirmed its layoff plans, it also maintained that it will re-hire from the same set of people as soon as there’s an improvement in the situation.

Soon after the Government’s Unlock, 1.0 plan came into being, Shoppers Stop reopened 55 of its 90 department stores.