RCom Reportedly Lets Go of 380 Employees for Non-Performance

Advertisement
By Press Trust of India | Updated: 10 April 2017 11:53 IST
RCom Reportedly Lets Go of 380 Employees for Non-Performance

Reliance Communications is learnt to have sacked nearly 380 employees for below-par performance, and 260 more are seen to be in the line of fire.

"RCom under its performance management system has asked around 380 people to leave the company for non-performance. It may sack another 260 people for the same reason," a source told PTI.

Faced with cut-throat competition, RCom had reported its first ever consolidated net loss of Rs. 531 crores in the December quarter.

The merger of SSTL with RCom is expected to be complete by the end of this month. RCom is believed to have paid second instalment of Rs. 396 crores spectrum purchased and interconnection usage charge of around Rs. 25 crores, among others.

Advertisement

"In the merger process, the liability spectrum instalments of SSTL have come on to RCom. The company cleared IUC payment to a telecom operator after gap of around 2 months. The rest of the payments were as per schedule," the source said. The Anil Ambani-led RCom did not comment on a query sent to it.

Icra has downgraded the long-term rating of Rs. 5,000 crores debt in the form of non-convertible debenture. Credit ratings are ascertained based on the company's ability to serve or pay back debt.

 

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Advertisement

Related Stories

Popular Mobile Brands
  1. Grok Will Now Let You Chat With a Goth Anime Girl That Has an NSFW Mode
  2. Realme 15 Pro 5G to Get 50-Megapixel Sony IMX896 Main Rear Camera
  3. Motorola Razr 60 Ultra Review: Flip Phone Perfection?
  4. Here's When Apple Could Unveil the iPhone 17 Series
  5. Vivo T4R 5G to Launch Soon in India; Design Teased
  6. iQOO Z10R With 32-Megapixel Selfie Camera to Launch in India on This Date
  7. LG Launches OLED Evo and QNED Evo TVs in India With These Features
  1. Axiom Space’s Ax-4 Crew Returns from ISS Aboard SpaceX Dragon Grace After Record Research Mission
  2. Crystalline Ice Discovered in Space: New Study Reveals Hidden Order in Cosmic Ice
  3. NASA Deploys High-Tech Aircraft to Support Texas Flood Relief and Recovery Efforts
  4. Massive Boulders Ejected by DART Mission Could Complicate Future Asteroid Deflection
  5. The Map That Leads to You OTT Release Date: When and Where to Watch it Online?
  6. Anuraga Karikkim Vellam Streaming Now on SunNXT: Everything To Know About Cast, Plot, and More
  7. CyberPowerPC India Announces Launch of Esports Masterclass Series in Navi Mumbai
  8. iPhone 16 Available at Rs 69,999 in Flipkart's GOAT Sale 2025; Price Discounted on Amazon as Well
  9. Google Pixel Watch 4 Could Use Same Processor as Last Year's Pixel Watch 3
  10. Delhi High Court Orders E-Commerce Platforms to Delist Products Infringing on Reliance, Jio Trademarks
Gadgets 360 is available in
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2025. All rights reserved.