Leading players in India’s telecom sector, such as Reliance Jio, Vodafone Idea, and Bharti Airtel, are gearing up for substantial workforce growth, with projections indicating a potential increase of up to 25% in their employee numbers.
The Economic Times report suggests that the demand for skilled personnel is expected to rise due to the expansion of 5G technology by the financial year 2024.
This push for expansion may lead to significant new hirings in the near future.
Despite a period of reduced recruitment following the pandemic, the financial year 2023 has witnessed a resurgence in large-scale hiring within the telecom companies.
Anticipated Hiring Surge of 30-40% in the Telecom Sector
Recent findings shared by the Mint, an English news portal, predict a substantial growth in hiring across India’s telecom sector, potentially reaching a remarkable 40-45% increase from January 2023.
Over the next 3 to 6 months, as the influence of 5G technology continues to gain momentum, there’s a projected rise of 30-36% in the pace of new recruitments.
Reliance Jio Infocomm, the nation’s largest telecom company, has already taken steps to provide 5G services at an impressive speed of 26 gigahertz millimeters throughout the country, with a maximum speed of 2 gigahertz per second.
This advancement in 5G capabilities is likely to drive the need for new hires in the coming period.
Additionally, the expanding 5G services of Bharti Airtel could trigger a demand for a substantial recruitment drive.
Financial Support for Vodafone Idea from Promoter Group
Amidst financial challenges, Vodafone Idea, a prominent telecom company, has announced receiving a commitment of Rs 2,000 crore in financial assistance from its promoter group.
The company, grappling with a total debt of Rs 2.11 lakh crore as of June 30, 2023, urgently requires to repay a loan of Rs 2,000 crore.
The assurance of support from the promoter group brings potential relief to Vodafone Idea’s financial situation, serving as a direct or indirect means of aid.
