Major impact on retail sector as company restructures for cost-efficiency.
Reliance Industries Ltd trimmed its workforce by 11% in FY24. Retail sector faced the highest job cuts.
Key Highlights
Employee count dropped from 245,581 in FY23 to 207,552 in FY24. Retail now represents about 60% of Reliance's total workforce.
Retail Workforce Reduction
Workforce reduced from 95,326 in FY23 to 90,067 in FY24. Cost-efficiency measures and restructuring at play.
Reliance Jio Impact
Maturation of new business lines and digital initiatives. Focus on managing operations with optimal workforce strength.
Restructuring Insight
Reliance Retail added over 800 new stores in FY24. Total stores increased to 18,836, despite closures of unviable locations.
Store Network Growth
Reliance is well-positioned for future growth opportunities with a leaner workforce.
Future Outlook