India remains one of the most difficult markets for telcos to turn a profit
India’s fastest growing telco, Reliance Jio, has cut over 5,000 jobs in India as part of a cost cutting exercise, according to reports in the Indian press.
Reports in the Indian press suggest that Reliance Jio has slashed the number of contractors it uses, as well as laying off around 500-600 of its own work force.
“We are expanding our consumer businesses and Jio continues to be a net recruiter in the industry. We also work with contractors who may be hiring staff on fixed time contracts for our various project construction activities.
Given we continue to recruit actively, the question of a cost pressure led action is not relevant,” a Reliance Jio spokesman told members of the press.
Reliance Jio employs around 20,000 people across India. The company has been responsible for bringing about India’s digital revolution, delivering ultra low cost data tariffs and handsets, whilst rolling out its comprehensive 4G networks. As a result of Jio’s aggressive price cutting policy, India’s telecoms market remains one of the most competitive in the world, with operators desperate to boost revenues in any way they can.
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