Reliance Retail, Jio sees uptick in employee attrition, shows RIL annual report 

The voluntary attrition across Reliance Industries’ telecom and retail units, Reliance Retail and Jio respectively, went up by 64.8 per cent, as per the company’s annual reports.

The report noted that 1,67,391 employees left Reliance Industries Limited during FY23. The breakdown across its verticals was as follows: 1,19,229 from Reliance Retail and 41,818 employees from Jio. The voluntary separation from its Oil to Chemical was the least and stood at 2,742.

The combined voluntary attrition for FY 2021-22 across Reliance Retail and Jio stood at 97,739. This means the voluntary attrition went up 64.8 per cent YoY.

The company’s hiring trends also witnessed an uptrend. The company hired 2,62,558 employees in total across its verticals in FY 23, This number stood at 2,32,822 in FY 22. The difference here is nearly of 30,000 people.

The total number of employees across the group stood at 3,89,414, maintaining the company’s position as one of the biggest employers in India.

As per the annual report, the company spent Rs 24,872 crore on employee benefits, Rs 6,000 crore more than the previous fiscal.

For FY 23, the company reported consolidated EBITDA  at Rs 1,53,920 crore, up 24.4 per cent YoY. Consolidated net profit grew at 11.3 per cent to Rs 73,670 crore.

The Chairman and Managing Director of the company, Mukesh Amabani said during the earnings call, “Jio continues to digitally empower millions of citizens across the nation, extending True 5G reach to 2,300+ cities and towns in a short span of 6 months. With steady growth in mobility and FTTH subscriber base and an expanding bouquet of content and digital services, the Jio business continues to deliver impressive growth in operating profits.”

He added that the company is working on expanding its product base for retail customers as well.

"We continue to expand our product base across consumption baskets, ensuring our customers get world-class products at affordable prices. Our retail team has an unwavering focus on enhancing consumer experience and ease of shopping," the Chairman noted.