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.
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