Unemployment continued to increase in India due to the slowdown in various sectors. Tall Claims of NDA Government on development hasn't been translating into creation of more jobs. The situation has only worsened since the beginning of 2019-20 financial year. There were nearly 4 lakh job cuts in the Automobile Industry since April this year. And now, We hear about enormous job cuts by India's Largest Biscuit Maker.
Parle Products Pvt Ltd is going to sack anywhere around 10,000 workers due to the lack of demand and slowdown of economic growth. Drastic Fall in the biscuit sales may force the Company to opt for mass layoffs as part of cost-cutting measure.
Founded in 1929, Parle Products Pvt Ltd have around 1,00,000 working staff in 135 manufacturing plants all over the country. Demand for Parle-G Biscuits touched a new low ever since the roll-out of GST in 2017 due to higher taxation. As the company had no other option but to offer few biscuits in each Rs 5 pack, Demand from the poor in Rural India has fallen drastically.
Parle Executives say, The situation would get worsened if Government doesn't intervene and take corrective measures.