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1 Lakh Job Cuts In Indian Auto Industry Per Month!
By: Tupaki Desk | 7 Aug 2019 1:30 PM GMT
Indian Automobile Industry is going through it's worst phase at present. Since April 2019, Anywhere between 3.5 to 4 lakhs Workers had lost their jobs.
Decreasing Sales of Car and Motorcycles has been resulting in massive job cuts in the automobile sector. To reduce the burden, Automobile Companies had shut down factories, reduced no. of shifts and even sacked many employees. Component Manufacturers are the most suffers of the ongoing slump. Over 1 lakh employees in this field were laid off in the past four months.
India's biggest automobile manufacturer Maruti Suzuki cut down it's temporary workforce by 6 percent in the past six months. Similar trend on noticed in the case of Yamaha Motor, Subros and Denso Corp.
The Automotive Component Manufacturers Association of India (ACMA) treats the current situation as a recession phase in the sector. Auto Manufacturers have been contemplating on seeking tax reductions and easy financing facility for dealers & consumers from Centre for reviving the Industry.
Decreasing Sales of Car and Motorcycles has been resulting in massive job cuts in the automobile sector. To reduce the burden, Automobile Companies had shut down factories, reduced no. of shifts and even sacked many employees. Component Manufacturers are the most suffers of the ongoing slump. Over 1 lakh employees in this field were laid off in the past four months.
India's biggest automobile manufacturer Maruti Suzuki cut down it's temporary workforce by 6 percent in the past six months. Similar trend on noticed in the case of Yamaha Motor, Subros and Denso Corp.
The Automotive Component Manufacturers Association of India (ACMA) treats the current situation as a recession phase in the sector. Auto Manufacturers have been contemplating on seeking tax reductions and easy financing facility for dealers & consumers from Centre for reviving the Industry.
