Jio underwent employee reduction in the same year cutting it down to 90,000 from 95,000 workers (Image:X @Reliance)

Since the workforce cut in 2024 continues in several sectors, Reliance Industries Ltd has laid off its 42,000 employees reducing 11% of the company’s manpower as per the Economic Times. It was said that Reliance focuses on cutting down the cost by laying off workers from the retail segments.

In 2023, the retail division of the company had 60 per cent of the workforce with 207,000 employees. Later, Reliance witnessed layoffs in both the retail divisions and Jio segments. Jio underwent employee reduction in the same year cutting it down to 90,000 from 95,000 workers.

As per the reports, the new opportunities and increase in retail stores wouldn’t ensure a job hike, but the team is performed based on the analysis of cost efficiency, management and revenue generation. According to the company’s annual report the recruiter number reducing it to 170,000 total employees. Social media has seen various comments on the sudden workforce cut at the reliance as people slam Mukesh Ambani that they spent a whopping amount on his daughter’s marriage, but had no money to pay employees’ wages.

Reliance throws the biggest parties, and has the weddings so many times, but can’t afford to pay their workforce? Kamaal hai !!!!

— life with Kiran (@kirancabral) August 8, 2024

On Wednesday, Dell announced that they had dismissed an unspecified number of employees marked as its second largest layoff in a year. This sudden change was initiated cutting marketing divisions and sales rooting toward artificial intelligence.

Also, read| Mass Layoff In Intel: “This Is Painful,” Says CEO Pat Gelsinger

Earlier this week, Intel announced a mass layoff which may affect at least 15,000 employees in the company. The company intends to take measures to reduce costs as Pat Gelsinger stated in an internal memo sent to the workers. As per the reports, the company aims to cut costs saving $10 billion by 2025 which would enhance financial performance. The dismissed employees may receive a retirement offer and other departure benefits.

Since global layoffs by tech giants and other multi-national companies raise concerns and escalate tensions among employees, it was reportedly stated that the chances are expected to be even higher that the companies may cut down the workforce in the coming months as well.

Also, read| Mass Layoff In Dell: Big Tech Continues Workforce Cut In 2024