Lucknow Press
There has been a large number of layoffs in Reliance Industries, the company of the country’s leading businessman Mukesh Ambani. Reliance has fired 42000 people. Ambani’s company is among the big companies of the country. Reliance Industries has made a profit of Rs 15,138 crore in the first quarter of the financial year 2024-25. His company has become the first company in the country to do a turnover of Rs 21 lakh crore. The profit before tax of Reliance Industries has crossed Rs 1 lakh crore. It became the first Indian company to do so.
After these praises, now understand the shocking reality. Reliance has reduced jobs by 11 percent in FY24. The company has reduced the number of employees by 42,000 during the financial year 2023-24 (FY24).
Reliance reduced the number of employees
Why are there fewer jobs?
Reliance made fewer recruitments to reduce cost expenses. The number of employees in Reliance was 389,000 in the financial year 2022-23, which decreased to 347,000 in the financial year 2023-24. About 42 thousand employees lost their jobs. According to the company’s annual report, new appointments have also decreased. This year Reliance has reduced new appointments by more than a third and limited it to 170,000.
Regarding the decreasing jobs in Reliance Industries, a leading brokerage firm expert said that it is not that jobs will not come in Reliance. The company’s new businesses are maturing, the company’s new businesses have received adequate support from digital initiatives. Now they are at optimum strength to manage their operations better. But this does not mean that the headcount in the company will not increase with the emergence of new business opportunities and changes in strategy. The company understands cost management and efficiency very well.
Reduction in Reliance’s retail business
Reliance’s retail business has seen the biggest cut. Reliance Retail accounted for about 60% of RIL’s total employee strength in the last financial year. The number of retail employees fell to 207,000 in FY24, while it was 245,000 in FY23. If we talk about Reliance Jio, the number of employees there decreased from 95,000 in FY23 to 90,000 in FY24. Even though there have been job cuts, the company’s employment expense has increased by 3% and it reached Rs 25,699 crore.
