Insta
Reliance Jio Cuts Jobs, Lets Go Off Around 5,000 Staff On Contractual Pay Roll
Jio said that the company continues to be a net recruiter and there was no question of any “cost pressure-led action.” (Representative image) (Abhijit Bhatlekar/Mint via Getty Images)
Despite the aggressive growth of Reliance Jio’s customer base, the Mukesh Ambani-led telecom has laid off a significant number of its contractual staff owing to falling operational margins, Business Insider India reported on Thursday (30 May).
The telecom operator has further cut off a number of its permanent employees. In a reportedly rolled out leave orders, the company let go of around 5,000 employees, including more than 500 permanent employees.
According to reports, Jio said that the company continues to be a net recruiter and there was no question of any “cost pressure-led action.” The operating margin of Reliance Jio has projected a decline in the January to March quarter and saw an increase in expenses by eight per cent, affecting a large part of its workforce.
Reliance Jio has over 15,000 employees under its payroll. However, a large part of its workforce includes third-party workers, which are on the payroll of staffing firms.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
