Anupam Mittal: Reliance Industries is the country’s largest company in terms of market cap. The company has made a huge reduction of 11 percent in its workforce during the last financial year…
Anupam Mittal: Amidst the ongoing uproar over the Adani and Hindenburg issue, now the matter of the country’s richest person Mukesh Ambani has started to arise. Entrepreneur and investor Anupam Mittal has raised the issue of layoffs of employees of Reliance Industries during the last financial year on social media. Along with this, he has questioned why there is so much silence on this issue.
Anupam Mittal gave this update on X
Shaadi.com founder and Shark Tank India judge Anupam Mittal shared a news of the layoff of employees of Reliance Industries and wrote on the social media platform X – 42 thousand? Why is this quiet news? This news should have rung serious alarm bells in the economic and political corridors.
Employees were reduced due to these reasons
According to the news shared by the tech investor on X, Reliance Industries reduced the total number of its employees by 42 thousand in the financial year 2023-24. The reason behind this massive reduction in the number of employees of Reliance Industries is said to be focus on reducing costs and reducing the pace of hiring.
Most reduction in retail segment
Reliance Industries had given information about reducing the workforce in its annual report released recently. According to the annual report, the number of employees of Reliance Industries decreased by 11 percent in the financial year 2023-24. The biggest reduction in employees came in the retail segment. At the end of the last financial year, the total number of employees in the retail sector of Reliance Industries came down to 2,07,552, which is equal to about 60 percent of its total employees. However, a year ago 2,45,581 employees were working in the retail sector.
42k? Why is this ‘quiet news’? Should be raising serious alarm bells across the economic & political circles 🤷🏻 https://t.co/L0XP0nnzHu
— Anupam Mittal (@AnupamMittal) August 10, 2024
Employees reduced by five and a half percent in Jio
Apart from retail, the number of employees of Reliance Jio has also declined significantly. At the end of the financial year 2022-23, the number of employees of Reliance Jio was at 95,326, which came down to 90,067 at the end of the financial year 2023-24. That is, the workforce of Reliance Jio decreased by about five and a half percent during the last financial year.
