Reliance Communications group has a 94% fall in head count

Reliance Communications has seen a huge fall in the headcount. The number of employees have come down by more than 48,000 to the current level of 3,400 people. This is a 94% reduction from the peak level of 52,000 employees. The company was at its peak in 2008-2010.

Reliance Communications is under a debt of INR 45,000 crore and has closed its mobile service business in January 2018. It continues to provide business to business telecom services. The company stated that its B2B unit is insulated from the ongoing traffic war in the industry. In a filing, the company stated that the tariff wars between the incumbents - Idea, Airtel, Vodafone and Reliance Jio continue unabated which has further dragged down all the key financial metrics of the wireless sector. However, since the exit from the wireless B2C business in January, the company is not affected by the hyper-competition in the sector.

The wireless sector continues to be on a downward spiral with more than 21 percent of revenue decline on a year on year basis. The total revenue market size shrunk by more than INR 26,000 crore on an annualized basis.