Jobless Growth? …now Tata Motors sacked 1500 managers!
Larsen & Toubro, a major engineering sector company, had announced to reduced 14,000 employees in the first part of the current financial year! HDFC Bank has shown a way out of more than 10 thousand employees this year! About 50 thousand jobs have been sacked in the software segment!
Tata Motors has announced the layoff of up to 1,500 employees at manager level. The company says that this is part of the process of improving the structure of the company. The company’s managing director Gunter Butschek told the media that the company’s total 13 thousand managers has been reduced by around 10-12 percent. He was speaking at the time of accounting for the financial year 2016-17.
However, the management of Tata Motors has clarified that the impact of the cut will not affect the ‘blue collar’ workers’ jobs. Company’s Chief Financial Officer C Ramakrishnan told the news agency PTI, “we have analyzed the role and needs of the staff in very intense analysis. It took us 6-9 months to reach this decision. We have taken care of the characteristics like performance and leadership capability at the time of the trim. “The officials of the Tata Motors are claiming that the reason for layoffs is not to cut costs but to tighten the structure of the institute.
The trimmed atmosphere on all sides
Tata Motors is not the only company that has cut its employees. In the past few months, many sector companies including software have reduced their workforce. From the change in US policies to increasing use of automatic technology, it is considered to be the reason. Larsen & Toubro, a major engineering sector company, had announced to reduced 14,000 employees in the first part of the current financial year. HDFC Bank has shown a way out of more than 10 thousand employees this year. About 50 thousand jobs have been sacked in the software segment.