Reliance Jio plans massive hiring; Idea cuts down employee cost at the dawn of merger with Vodafone.
There is a lot of upheaval in the telecom sector. There were thousands who lost their jobs post the closure of Reliance Communications and Tata Communications.
However, there is a ray of hope for many of these employees as Reliance Jio plans to hire 70,000 to 80,000 people in this financial year.
The telecom company has tied up with 6,000 colleges, including technical institutions, across the country where there are some embedded courses to make students ‘Reliance ready’. Besides, the company will also hire through referrals and social-media platforms.
Currently, Reliance Jio has an employee strength of 157,000 people.
Sanjay Jog, chief human resources officer, Reliance Jio said in an industry event,
“The company has an attrition rate of 32 per cent in sales and technical functions at constructions sites. However, at the headquarter level, it is just two per cent and on an average it will be 18 per cent.”
Jog added, “It’s not just about 1,57,000 people on the rolls today. What’s important is the number of people associated with Jio. We have one million retailers who are on board, each one impacting two to three employees.”
Meanwhile, another telecom company, Idea, has brought down its employee cost by 40 per cent in the last quarter. The Company is in the process of merging with Vodafone.
The Company had an employee expense of Rs 404 crore in Q2 of FY 18, which came down to Rs 388 crore in Q3, FY 18 and in the last quarter it has further declined to 224.4 crore.
The Company’s quarterly sales turnover has also come down from Rs 7349 crore in September 2017 to Rs 6033 crore in March, 2018.