Private sector increased recruitment, but most PSUs are seeing a decline in the number of employees

Author: Yuvi August 16, 2022

Most of the top 15 listed PSUs by market capitalization saw a reduction in their headcount, showed an analysis of annual reports including the latest FY 2021-22 (FY22). This trend was seen across sectors ranging from banking and manufacturing to energy and minerals.

Except, SBI Life Insurance and IRCTC, which reported an expansion in headcount during FY22, and LIC, which is yet to report its numbers for the year ended March 31, 2022, all the companies on the list showed a decline. are reporting. Number of employees for the last several years.

The Indian Express had reported on Monday that eight of the top 10 private companies by market capitalization had added more than 3 lakh to their human resources during 2021-22. Within the private sector, the year saw maximum recruitment in services – especially retail, IT services and banking – as companies tapped into tier-2, tier-3 and tier-4 cities for manpower. The companies included Reliance Industries Limited, Infosys and TCS, HDFC Bank, ICICI Bank and Bajaj Finance and Maruti Suzuki Ltd.

India’s largest bank SBI last saw an increase in its workforce in 2017-18, when it added 71,000 employees during the year following the merger of its five associate banks and Bharatiya Mahila Bank. Even before this, the bank was witnessing a steady decline in the number of employees. SBI’s subsidiary SBI Cards & Payments also saw a drop of 3,774 people on its rolls in the last three years as on March 31, 2022, as against 3,967 as on March 31, 2020.

After witnessing a bump due to the amalgamation of Dena Bank and Vijaya Bank with effect from April 1, 2019, Bank of Baroda has been witnessing a reduction in its employee headcount for the past two years. There were 79,806 people in the rolls of the bank. March 31, 2022, down from 84,283 employees as on March 31, 2020.

The workforce of Coal India Limited declined from 2.48 lakh as on March 31, 2022, to 3.83 lakh in 2010-11 eleven years ago. Power generation major NTPC too had registered an increase in its workforce a decade ago. At the end of 2011-12, NTPC had 25,511 employees and since then, its numbers have steadily declined to 17,474 till March 31 this year.

Upstream oil company ONGC, which had 27,165 employees at the end of March this year, last recruited in 2015-16. It had 33,927 people on its rolls at the end of March 2016. The privatized Bharat Petroleum Corporation Limited (BPCL) has also reported a steady decline in the workforce since 2013-14. At the end of 2013-14, BPCL reported 13,214 employees – one person more than on March 31, 2012 – and has fallen to 8,594 as of March 31, 2022.

GAIL India saw a net increase in its workforce in 2016-17, five years ago, when it reported 22,604 employees. Since then it has seen a decline of 17,828 people till March 31, 2022. Indian Oil, India’s largest state-owned oil marketing company, is witnessing a decline in the number of employees since 2018-19. It had 31,254 employees at the end of 2021-22, compared to 33,498 employees at the end of 2018-19.

Ticketing platform IRCTC, which had 1,971 employees as of March 31 this year, saw a decline of 1,417 employees in 2020-21 from 1,446 employees in 2019-20. SBI Life Insurance is also witnessing a steady growth over the years to 18,515 people as on March 31, 2022 from 13,207 as on March 31, 2018.

16 August, 2022, 2:00 am

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