India: Companies may cut employees by 25-30 pct soon
INDIA: With the effort to reduce cost, India companies are set to cut
25-30 percent employees in businesses like IT, aviation, steel,
financial services, real estate, cement and construction, reported local
leading newspaper Times of India on its website Wednesday.
These seven sectors are no longer in a position to sustain their
operations with existing manpower strength, according to a report from
Assocham (Associated Chambers of Commerce and Industry of India), a
leading industry body in India.
"HR heads of these sectors have drawn up conclusive plans to curtail
their workforce by 25-30 percent, announcements for which is likely in
the next 10 days or so," Assocham president Sajjan Jindal said.
New Delhi,
Thursday, Xinhua
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