News: Auto companies call for stimulus, talk layoffs

Employee Relations

Auto companies call for stimulus, talk layoffs

The prolonged slowdown threatens to spiral into a major crisis as many car makers are now contemplating pruning workforces to contain costs, Hindustan Times reported.  Companies such as Maruti, Toyota, Tata and Mahindra have already benched temporary many workers.

The prolonged slowdown threatens to spiral into a major crisis as many car makers are now contemplating pruning workforces to contain costs, Hindustan Times reported.  Companies such as Maruti, Toyota, Tata and Mahindra have already benched temporary many workers.

“It is a very serious situation for the industry. The original equipment manufacturers have started adjusting temporary and casual workforce,” said Vishnu Mathur, director general, Society of Indian Automobile Manufacturers (SIAM). “In the manufacturing sector, not restricted to auto sector alone, companies by and large tend to keep more temporary and casual workers.”

Read the full report here

Read full story

Topics: Employee Relations, #IndustrialRelations, #Corporate

Did you find this story helpful?

Author


QUICK POLL

Post-COVID, which aspect of work will technology impact the most?

2 months free subscription
q_auto,f_auto/v1599122279/mag-september-2020.png

Subscribe to all new People Matters HR Magazine

.

Subscribe
And Save 59% plus Two months free

Subscribe now

Are we too remote for our employees?

Participate and get your free pulse report.

Participate Now