Reliance cuts 11% workforce in its cost-efficiency drive; retail sees highest trim

Reliance Industries Ltd cut its workforce by 11% in FY24, primarily in the retail segment. Employee numbers in the retail sector fell from 245,581 in FY23 to 207,552. Reliance Jio also saw a reduction, with workforce numbers dropping from 95,326 to 90,067. This move follows restructuring and cost-efficiency measures, despite an increase in store locations.