Is Rcom Wireless Business Shutting Down? Anil Ambani’s Reliance Communications (RCom) is looking to shut down its 2G services due to plummeting revenues. According to the Economic Times report, RCom has informed all employees that they will only be with the company until November 30. According to the report, RCom said that apart from several other reasons, Mukesh Ambani’s Reliance Jio has affected the business due to free voice calls and cheap internet data.
Rcom Wireless Shut Down: Thousands Set to Lose Jobs
According to ET report, RCom CEO and Executive Director Gurdeep Singh told the employees on Tuesday (October 24th) that the company has to take a decision to shut down the wireless business. Gurdeep said that despite the company’s best efforts, it can not run for more than 30 days. According to the news, Gurdeep Singh said that the company will continue to have ILD Voice, Consumer Voice, and 4-G Dongle Post-paid services. These services will be provided till they continue to provide profits to the company.
According to the report, Gurdeep Singh said that the company’s DTH license is being renewed on 21st November and the company will not make any further progress. That is, the company is also accommodating its DTS business. According to the report, RCom is about to shut down its 2-G business. The company will now focus on its 3-G and 4-G businesses, which is more profitable.
Recently, Anil Ambani said at the annual meeting of investors that Reliance Infra, a manufacturing company, would be a partner in the bullet train project being created with the cooperation of Japan between Ahmedabad and Mumbai. At the same time, Defense Company, Reliance Defense, got the contract to make naval submarine from the Indian government.
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