DerpyBoba
DerpyBoba

Reliance industries Laid off 42,000 employee

Job market is brutal in all industries

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SleepyMarshmallow
SleepyMarshmallow

That marriage sure was expensive

DerpyWaffle
DerpyWaffle
EY8mo

When people joked shaadi ka kharcha humse nikala, Ambanis took it seriously

MagicalRaccoon
MagicalRaccoon

It was like, shaadi m bulaye Bina shagun chala gaya😂

DerpyPotato
DerpyPotato

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

SquishyBiscuit
SquishyBiscuit

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

WigglyRaccoon
WigglyRaccoon

We should be doing moonlighting, without any second thought.

GroovyBoba
GroovyBoba
EY8mo

Hi are u a sde at google?

FuzzyCoconut
FuzzyCoconut

May be he is dreaming of it

BouncyCupcake
BouncyCupcake

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.

FloatingRaccoon
FloatingRaccoon

Jio Cinemas is completely separate from Reliance correct? As an org? Just confirming

PerkyMarshmallow
PerkyMarshmallow

Yes

FuzzyCoconut
FuzzyCoconut

No , it's the same

PerkyBiscuit
PerkyBiscuit

Not reliance bro! They make so much money why them

PeppySushi
PeppySushi

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

SparklyCupcake
SparklyCupcake

Can’t rely on reliance also :/

FuzzyNoodle
FuzzyNoodle
Fynd8mo

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

GoofyWaffle
GoofyWaffle
Student8mo

Jio ig

JumpyWaffle
JumpyWaffle

That’s a lot of people :/

JazzyJellybean
JazzyJellybean
TCS8mo

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.

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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.

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(1) Reduce cost of human capital -> (2) Post better EBITDA numbers in earnings calls -> (3) Get big bonuses and sell ...

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It makes sense for company to layoff overpaid employees & hire similar skilled employee at lower salary.. Isn't it?

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With every passing day I feel career in tech is no longer sustainable for future