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Bajaj Auto, MD, Rajiv Bajaj recently spoke out against the on-going job cuts in the Indian auto industry. Bajaj said that though the auto industry is facing a slowdown in sales, it still doesn't justify the job cuts from various manufacturers.
According to reports from ET Auto, Rajiv Bajaj stated that the slowdown in sales is mainly due to the shortcomings of the Indian automotive brands themselves. Bajaj made a strong statement that the Indian industry products are ‘mediocre'.
He said, "Lot of companies are not able to export because frankly, by world-class standards, their products are mediocre. Obviously, I don't want to name them but when you make everything from scooters, bikes, cars, jeeps, SUVs, trucks, buses and everything under the sun, you are obviously not going to be world-class at anything."
Commenting on the job cuts, he said that although the industry is facing a difficult time, a 5 to 7 per cent decline cannot be classified as a crisis.
He went on to say, "If I tell my employees that when the going is tough, I am going to throw you out, then how would my employees trust me. It's doublespeak. Salary of employees is just 4 per cent of sales, so is it justified to throw your employees for such a small saving?"
He further added, "I wouldn't like to play with the lives and families of the employees."
The Indian Automotive Industry is currently facing its worst decline yet. Many automotive manufacturers are having to cut down jobs due to the slowdown in sales. Big car brands such as Maruti Suzuki and Mahindra have already announced job cuts of temporary employees in the Indian market — here are the details.
Due to the slowdown in sales in the market, many manufacturers have also announced ‘no production days' for continuous periods. Many companies will be pushing out their products from their growing inventory until the demand for the products increases again — here are the details.
However, many industry experts are of the opinion that the sales will improve during the upcoming festive season in the country.
Thoughts On Rajiv Bajaj Speaking Out Against The Job Cuts In The Auto Industry.
Rajiv Bajaj has made a strong statement in the country, against many manufacturers cutting down jobs to keep their losses in check. We do agree with him to an extent, that cutting down jobs of employees whether temporary or permanent will not change the company's finances.