News: Britannia Industries sacks forty two executives in one day

Employee Relations

Britannia Industries sacks forty two executives in one day

Faced with soaring costs and hyper competition, Britannia Industries has pink slipped 42 executives in a single day signaling that FMCG companies are cracking the whip on under performers. All 42 employees, including some managerial staff, who have been asked to leave will be given their salaries for the next two months, but have been asked to go on leave immediately. These employees were from the manufacturing, sales, packaging and quality control teams, said a person aware of the development. While the percentage of employees who have been asked to leave is about 3% of the company's total strength of around 1,400, the haste with which the move was executed shocked many staffers. But the company said the affected employees were put on notice for some months now.

Faced with soaring costs and hyper competition, Britannia Industries has pink slipped 42 executives in a single day signaling that FMCG companies are cracking the whip on under performers. All 42 employees, including some managerial staff, who have been asked to leave will be given their salaries for the next two months, but have been asked to go on leave immediately. These employees were from the manufacturing, sales, packaging and quality control teams, said a person aware of the development. While the percentage of employees who have been asked to leave is about 3% of the company's total strength of around 1,400, the haste with which the move was executed shocked many staffers. But the company said the affected employees were put on notice for some months now.

Industry experts believe that companies like Britannia are bound to get tougher on performance expectation from employees with increasing competition in the marketplace. Britannia has been facing stiff competition from ITC, Kraft and Parle and also some regional players.

Source: The Times of India 

Read full story

Topics: Employee Relations, #Updates, #Jobs

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/v1593523489/mag-july-2020.png

Subscribe to all new People Matters HR Magazine

.

Subscribe
And Save 59% plus Two months free

Subscribe now

Interested in daily dose of short & crisp insights from the world of work?