Anupam Mittal Responds to Reliance’s 11% Workforce Reduction, Raises Concerns
Anupam Mittal, founder of Shaadi.com, has voiced concerns over the recent mass layoffs at Reliance Industries Ltd., taking to X (formerly Twitter) to question the lack of media coverage surrounding the issue. Reliance Industries has cut 42,000 jobs, representing 11% of its workforce, in the 2023–24 fiscal year, compared to the previous year.
Anupam Mittal, founder of Shaadi.com, has voiced concerns over the recent mass layoffs at Reliance Industries Ltd., taking to X (formerly Twitter) to question the lack of media coverage surrounding the issue. Reliance Industries has cut 42,000 jobs, representing 11% of its workforce, in the 2023–24 fiscal year, compared to the previous year.
In his post, Mittal expressed frustration with the media’s subdued response to the significant job cuts. “42k? Why is this ‘quiet news’? Should be raising serious alarm bells across the economic & political circles,” he wrote. His remarks come amid reports from the Economic Times highlighting that Reliance Industries, which had 389,000 employees in 2022–2023, now employs 347,000, marking a substantial decrease.
The layoffs are reported to be concentrated in Reliance’s retail division, which saw a reduction from 245,000 employees to 207,000. Despite the downsizing, Reliance Retail opened 3,300 new stores in the fiscal year, bringing the total number to 18,040. The company’s Jio segment also experienced a reduction in workforce, dropping from 95,000 employees to 90,000.
According to an analyst quoted by the Economic Times, the layoffs are part of Reliance’s strategy to enhance cost-efficiency and streamline operations. “The new lines of businesses have matured now and have significant support from digital initiatives. They are at a stage to better manage operations with optimal strength,” the analyst said. The reduction in workforce is seen as a move towards better cost management and efficiency, with expectations that staffing levels may increase with new business opportunities.
Mittal’s criticism underscores a broader concern about the impact of such large-scale layoffs on the economy and the potential need for greater media scrutiny and public discourse on corporate practices.
Sources By Agencies
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