The beleaguered telecom sector is set to face job cuts of about 50,000 – 75,000 in the current fiscal year as several operators close their businesses, a research note by Randstad India said.
Another research note by TeamLease Services estimates the number to be as high as 90,000, as reported Financial Express (FE).
Paul Dupuis, managing director and CEO, Randstad India believes the sector could shrink by another 5-10% over the next 12 months, reported FE.
The growth in the telecom sector is stunted with companies resorting to automation, more job sheds would be witnessed in the sector, Financial Express reported. The sector’s 30 percent of the workforce has super-specialised skills and it will be difficult to get employment elsewhere, the report added.
However, the biggest market player in the telecom sector, Reliance Jio, which has about 1,57,000 people on its payroll, said that it expects to hire about 50,000 to 70,000 employees in the current fiscal year, the report said.
RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.
First Published: IST