Future Group scales down e-commerce venture, lays off 400 employees

Kishor Biyani-led Future Group laid off 350-400 employees after it scaled down its e-commerce venture, Retail 3.0. Future Group recently shuttered many of its EasyDay stores amid little traction for its EasyDay grocery app. The closure of 140 EasyDay stores in November was a part of the same restructuring exercise. “The idea was to convert the entire offline journey into the online world," a former employee said.