Reliance Industries (RIL) has seen a substantial increase in incidences of “voluntary separation" in its retail and telecom divisions in 2022-23. According to its annual report, attrition rate rose by 64.8% over FY22.

The conglomerate spanning from oil to telecommunication, also said that it had boosted its hiring efforts. However, the momentum was lost following its acquisitions as operational redundancies led to duplication of roles across various functions, said three people aware of the development.

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“RIL made several acquisitions in the retail segment and this led to overlap of functions. Some executives decided to take on other responsibilities while several others left the firm to join other industries during the hiring boom,"  an industry executive was quoted as saying by Livemint.

Around 167,391 employees left RIL during FY23, including 119,229 in retail and 41,818 Jio employees. The firm’s data for its retail arm included only its on-roll employees.

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“Exits in both retail and Jio have been in the junior to mid management levels," recruiter, who wished to remain anonymous, was quoted as saying by Livemint. There has been a significant rise in fresh hiring, with the company recruiting 262,558 employees in FY23 compared with 232,822 in FY22 across businesses.

In May, e-commerce platform JioMart sacked many people as part of a cost-cutting exercise.