Tata Motors, India's biggest automaker by revenue, plans to shed a section of its workforce as a protracted slowdown and dwindling market share has forced the company to restructure its domestic manufacturing operations.
The automaker has initiated two voluntary retirement programmes— early separation scheme (ESS) and compulsory retirement scheme—across its main commercial vehicle plants in Jamshedpur, Lucknow and Pantnagar.
"It is an industry wide phenomenon with capacities lying unutilised and so are the personnel," a top executive at Tata Motors said.
"Most of the automotive companies are reducing workforce. We have also undertaken some measures to streamline our operations, though we are supportive to our staffers and enabling them some solutions for their future."
Although the executive termed the job cuts as "very minor", people close to the development said the automaker has identified around 5,000 staffers for the retirement schemes. Read more..
Although the executive termed the job cuts as "very minor", people close to the development said the automaker has identified around 5,000 staffers for the retirement schemes. Read more..
Source: Auto News in Hindi
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