42,000 employees laid off in FY24 in Reliance
This is for all those people who shit on startup’s for layoffs saying big companies like Tata, reliance run their businesses better without layoff.
Job market is brutal in all industries
Reflects what happened in 2024. It wasn't just startups. But I think it is behind us now, haven't heard of a major layoff in 2 months
Whereas last year it would be 1 ever 1-2 weeks
Last yr it was in relatively less in count per layoff. This year it is mass layoffs
Funny to see someone in VC saying this. Just wait for this year second half and the next
Vishwaguru government had cut the corporate tax saying they will create jobs. The reality is that now salaried class pays more tax than corporates and lives in fear of losing ones job. Crony capitalists are just sucking blood of Indians.
Not reliance bro! They make so much money why them
Layoffs aren't always done because of losses. Like the article says , they're focusing on cost-efficiency and found out that they have more people than they actually need , that's why they're laying off people
Can’t rely on reliance also :/
RIL layoffs already happened last year to increase profit margins for their upcoming IPOs. Everything is back to normal now. Don't spread half baked news.
Which IPOs
Jio ig
That’s a lot of people :/
Its not laid off 42000, the actual news is reliance workforce stands at 42000 currently, lower then the previous years. Which means they didn't recruit much people and many retired.
What's the condition in TCS ?
This is for all those people who shit on startup’s for layoffs saying big companies like Tata, reliance run their businesses better without layoff.
There is big layoff 50% in reliance retail - jiomart B2B business.
Reasons Very poor management, aggressive hiring, creating business that does not exist, downfall of business.
Compensation -
Asked people to resign & said to s...
Heard from a friend in reliance in a senior role - there would be 6k layoffs. Jiomart and netmeds will get impacted. ...
Week back there were posts by linkedin engineers that linkedin is hiring SDEs and anyone can as referral and today they laid off 700 people.
Like whats happening man!!! Is the company dumb or what?
(1) Reduce cost of human capital -> (2) Post better EBITDA numbers in earnings calls -> (3) Get big bonuses and sell ...
It makes sense for company to layoff overpaid employees & hire similar skilled employee at lower salary.. Isn't it?
With every passing day I feel career in tech is no longer sustainable for future