Why Adani Group Listed Companies Reported Lower Headcount

The Adani Group has several companies that are listed on the stock market.

Last year, the number of people directly employed by those listed companies went down.

This was the first reported decline in their combined headcount.

The group started using outside vendors for some jobs.

That means some workers may now be employed by vendors instead of directly by Adani companies.

However, the wider group includes unlisted companies and outsourced workers.

When those workers are counted, the total workforce grew by about one-fifth.

So the group’s workforce became larger overall even though its listed companies reported fewer direct employees.