Reliance Industries (RIL), which is governed by the Ambani family, is said to have launched a cost-efficiency campaign after announcing over 1,000 layoffs at Reliance JioMart. According to reports, Reliance Industries is halting the employment process at both Reliance Retail and Reliance Jio Infocomm as a result of this.
Reliance layoffs are not the only cost-saving measure being taken, according to a Livemint article. Reliance Retail and Reliance Jio Infocomm underperformers are being given pink slips by the Ambani-led RIL, which is also evaluating remuneration norms.
According to the article, Reliance’s retail division seeks to end the role-duplication that became widespread as a result of recent acquisitions like Metro Cash and Carry. Reliance Jio’s majority of the 5G network build out is complete in terms of telecom.
“Over the last year, Reliance Retail and Jio made a significant amount of hires. The senior management has instructed them to trim down after they hired personnel at greater than average market worth. People who do poorly can be laid off, according to a source mentioned in the newspaper.
Due to these layoffs, it has been stated that recruiting at Reliance Retail and Reliance Jio Infocomm has slowed down and would now only be done on a “need-basis.”
A second wave of layoffs is anticipated in addition to the existing reduction of 1,000 employment responsibilities, according to earlier media reports on Reliance JioMart’s layoffs. It should be emphasised, however, that Reliance Industries has not yet made any formally official comments on any of these occurrences.
