Reliance Industries Cuts Workforce by 42,000 Employees in FY24, Focuses on Cost-Efficiency

Mumbai: Reliance Industries Ltd. (RIL) has reduced its workforce by 42,000 employees during the financial year 2024, focusing on cost-efficiency measures. The company’s decision to cut down on hiring, especially in its retail division, has led to a significant decrease in its employee count.

The retail division, one of the largest sectors in Reliance Industries, saw its employee strength drop to 207,000. Similarly, the employee count in Jio, Reliance’s telecommunications arm, also witnessed a reduction.

Despite the reduction in workforce, Reliance Industries reported a 3% increase in employee benefits expenses, which rose to Rs 25,699 crore. This rise in expenses reflects the company’s commitment to maintaining competitive compensation and benefits for its remaining workforce.

Reliance Industries continues to focus on optimizing its operations while balancing employee costs and maintaining profitability.

Key Highlights

• Reliance Industries reduced its workforce by 42,000 employees in FY24.
• The retail division’s employee strength dropped to 207,000.
• Jio also saw a decrease in its employee count.
• Despite cuts, employee benefits expenses rose by 3% to Rs 25,699 crore.

As the company moves forward, it remains focused on sustaining growth while managing operational costs effectively.

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Reliance Industries cut its workforce by 42,000 employees in FY24, focusing on cost-efficiency and reduced hiring, particularly in the retail division. The company's retail employee strength dropped to 207,000, and Jio’s employee count also decreased. Despite workforce reductions, employee benefits expenses rose 3% to Rs 25,699 crore.
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