India’s largest biscuit maker Parle Products Pvt Ltd may be forced to lay off up to 10,000 workers if the current economic slowdown persists, a report in the Economic Times stated.
The news comes as a slowdown in Asia’s third-largest economy has hit demand for everything from automobiles to retail products, forcing companies to curtail production and recruitment, while raising hopes that the Indian government would unveil an economic stimulus to revive growth.
“We have sought reduction in the goods and services tax … but if the government doesn’t provide that stimulus, then we have no choice but to let go of 8,000-10,000 people,” the Economic Times quoted Mayank Shah, category head at Parle Products, as saying.Click Here: nrl shops