Reliance retail and Jio’s employee attrition went up by 64.8 per cent, as per RIL annual report
Reliance Industries limited has released their annual report on Sunday according to which the company managed strong operating and financial growth during the fiscal 2023. This was indeed a good news for the company overall but if we look at the number of employees that left the company during FY23 it would be probably be a shock.
This is because as per the report, total 1,67,391 employees left Reliance Industries limited among which 1,19,229 employees left from Reliance retail and 41,818 employees left Jio. While the voluntary separation from it’s Oil to Chemical was the least and stood at 2,742. The over all employee attrition went up by 64.8% YoY as the voluntary attrition from the company for FY22 was 97,739.
Though the company’s hiring trend has also seen a growth as in FY22 the company hired 2,32,822 employees but in FY23 the company hired 2,62,558 employees. Although after seeing the growth in both attrition and hiring, Reliance Industries limited still manages to be one of the biggest employers in India as the total number of employees across the group stood at 3,89,414.
Apart from this for FY23, the company consolidated EBITDA at Rs.1,53,920 crore, up 24.4% YoY and consolidated net profit grew at 11.3% to Rs.73,670 crore.
