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Tata Motors 600 Workers Asked To Leave
In times of economic slowdown in the four wheeler industry, many measures have to be taken to avoid losses or any other method that will help the company.
Tata Motors, India's largest four wheeler Indian manufacturer too has been hit by the slowdown. The Indian four wheeler manufacturer in an attempt to ease its financial situation will be asking 600 of its employees to leave.
The Indian automobile giant will be asking its employees, 600 of them to consider early retirement.
Tata Motors will be asking those employees who have worked for 20 years or more however, haven't done well in the appraisal system. They will receive some sort of benefit under Early Retirement Offer.
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This program was initiated by late managing director Karl Slym. He had also implemented various other methods to cut down costs like decreasing vendors for Tata Motors as well as its subsidiary Jaguar Land Rover.
Tata hasn't done good business in the domestic sector for a few years now. Since the slowdown in vehicle sales, their sales figures have further fallen down.
Tata Motors haven't offered anything new in their portfolio, minor facelifts are the only changes made. They need a change in their design of cars to make it more appealing compared to its competitors.
Tata Motors will be taking a drastic step by asking their workers to consider early retirement however, in time it will be found if their plan was worthwhile or not.
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