Most of the highest 15 listed PSUs by market capitalization noticed a discount of their headcount, confirmed an evaluation of annual studies together with the newest FY 2021-22 (FY22). This pattern was seen throughout sectors starting from banking and manufacturing to vitality and minerals.
Except, SBI Life Insurance and IRCTC, which reported an enlargement in headcount throughout FY22, and LIC, which is but to report its numbers for the yr ended March 31, 2022, all the businesses on the checklist confirmed a decline. are reporting. Number of staff for the final a number of years.
Indian Express reported on Monday that Eight of the highest 10 personal corporations by market capitalization had added greater than 3 lakh to their human sources throughout 2021-22, Within the personal sector, the yr noticed most recruitment in companies – particularly retail, IT companies and banking – as corporations tapped into tier-2, tier-3 and tier-4 cities for manpower. The corporations included Reliance Industries Limited, Infosys and TCS, HDFC Bank, ICICI Bank and Bajaj Finance and Maruti Suzuki Ltd.
India’s largest financial institution SBI final noticed a rise in its workforce in 2017-18, when it added 71,000 staff through the yr following the merger of its 5 affiliate banks and Bharatiya Mahila Bank. Even earlier than this, the financial institution was witnessing a gentle decline within the variety of staff. SBI’s subsidiary SBI Cards & Payments additionally noticed a drop of three,774 individuals on its rolls within the final three years as on March 31, 2022, as in opposition to 3,967 as on March 31, 2020.
After witnessing a bump as a result of amalgamation of Dena Bank and Vijaya Bank with impact from April 1, 2019, Bank of Baroda has been witnessing a discount in its worker headcount for the previous two years. There had been 79,806 individuals within the rolls of the financial institution. March 31, 2022, down from 84,283 staff as on March 31, 2020.
The workforce of Coal India Limited declined from 2.48 lakh as on March 31, 2022, to three.83 lakh in 2010-11 eleven years in the past. Power technology main NTPC too had registered a rise in its workforce a decade in the past. At the top of 2011-12, NTPC had 25,511 staff and since then, its numbers have steadily declined to 17,474 until March 31 this yr.
Upstream oil firm ONGC, which had 27,165 staff on the finish of March this yr, final recruited in 2015-16. It had 33,927 individuals on its rolls on the finish of March 2016. The privatized Bharat Petroleum Corporation Limited (BPCL) has additionally reported a gentle decline within the workforce since 2013-14. At the top of 2013-14, BPCL reported 13,214 staff – one particular person greater than on March 31, 2012 – and has fallen to eight,594 as of March 31, 2022.
GAIL India noticed a internet enhance in its workforce in 2016-17, 5 years in the past, when it reported 22,604 staff. Since then it has seen a decline of 17,828 individuals until March 31, 2022. Indian Oil, India’s largest state-owned oil advertising and marketing firm, is witnessing a decline within the variety of staff since 2018-19. It had 31,254 staff on the finish of 2021-22, in comparison with 33,498 staff on the finish of 2018-19.
Ticketing platform IRCTC, which had 1,971 staff as of March 31 this yr, noticed a decline of 1,417 staff in 2020-21 from 1,446 staff in 2019-20. SBI Life Insurance can be witnessing a gentle development through the years to 18,515 individuals as on March 31, 2022 from 13,207 as on March 31, 2018.
With inputs from TheIndianEXPRESS
