In the financial year 23-24, the Reliance conglomerate has reduced its workforce by 42,000, reportedly for cost-efficiency drive.
Reliance Cuts 42,000 Jobs as Netizens Criticize Lavish Wedding Expenses
The reductions are not just in the workforce, but the company has also cut down on hiring. As per the company’s annual report, Reliance had 389,414 employee strength last year, which is now reduced to 347,362 in FY24.
Most job cuts came from Isha Ambani Piramal’s Reliance Retail which went down from 245581 in FY23 to 207552 in FY24. Notably, Reliance Retail accounts for nearly 60% of the total Reliance conglomerate’s employee strength.
As per the RIL report, as compared to previous years, the voluntary separations in FY24 are lower than the previous fiscal year.
When this news got out, there were strong reactions coming from the netizens who particularly pointed out to the never-ending Rs 5000 crore wedding bash of Anant Ambani-Radhika Merchant that was preceded by a handful of pre-wedding bashes and now post-wedding celebrations.
Netizens Mock Reliance Layoffs, Linking Job Cuts to Lavish Wedding Spending
One of the netizen while taking a jibe at the report of layoffs at Reliance within a month of the grand wedding said that “The cost of the wedding of the century”.
Below are few of other reactions towards the same:
“Sabki salary shaadi mei laga di”.
“42000 job cuts due to high cost of confettis!”
“Layoffs are to mitigate the Great Ambani Wedding Costs”
“In a shocking turn of events, Reliance Industries has announced a major layoff of 42,000 employees. The conglomerate cites extravagant spending on weddings and corporate…”
“42,000 employees for “cost-efficiency”? But paying Rs. 83 crore to Justin Bieber to perform at a wedding was cost-efficient. Right?”
“Reliance lays off 11% of its workforce. They have money to spend on weddings.”
