Reliance Industries (RIL) experienced a significant change in employee strength in fiscal year 2023. During this time, many employees chose to leave the company voluntarily. This included employees from both Jio’s telecom arm and Reliance Retail’s retail division. According to RIL’s annual report, 41,818 of the total departures were from Jio, with a larger group of 1,19,229 coming from Reliance Retail.
At the same time, Jio, which is owned by RIL, hired a large number of new employees. Approximately 70,418 new hires joined Jio’s team during FY23, bringing the total number of employees to 95,326 by the end of the fiscal year.
It’s worth noting that Jio is now focusing more on roles involving the Internet of Things (IoT) and artificial intelligence (AI). As a result of this shift, the company’s demand for traditional sales executives has decreased. The company’s emphasis on advanced technologies has resulted in changes in the types of job roles required.
Employee structure changes were more noticeable at the lower to middle management levels. The departures reported in both the retail and Jio sectors demonstrated this. This restructuring is in line with Jio’s push into IoT and AI, which necessitated a workforce reorganisation.
Despite the departures, RIL increased its total workforce. It hired a significant number of new employees in FY23, with 262,558 new hires. This represented a significant increase over the 232,822 new employees hired in the previous fiscal year, FY22. This expansion encompassed a wide range of sectors and functions across RIL’s diverse business operations.