Tata Group Can Fire Employees In India; 1000 Employees Already Fired From This Tata Company
The mighty Tata Group is reeling under the pressure of loss in revenues, and very soon, they can announce a massive layoff in India.
Infact, 1000 employees from this Tata company have already been fired.
Tata Group Can Fire Employees In India
As per The Times-News Network (TNN), Tata Group is all set to announce a layoff in India, as losses have increased to an unprecedented level.
Tata Group’s several businesses have been impacted, including aerospace, automotive, and aviation, and a tipping point has now arrived, wherein layoffs have become a necessity to survive.
Which Employees Can Be Fired?
As per the reports, the contract workers at automotive and manufacturing plants will be the first to get fired.
Such contractual workers managing production of automobiles at Tata Motors and its arm Jaguar Land Rover can be in the line of fire.
In the Netherlands, Tata Group’s steel plant can fire anywhere between 1000 to 9000 employees.
Note here, that Tata management has already declared that they will reduce their salary by upto 20%, but it seems that this won’t be enough as of now.
Earlier, Tata Group had announced that no employee will be fired, and no assets will be sold to compensate the losses.
But this report by The Times-News Network (TNN) predicts otherwise.
This Tata Group Company Has Already Fired 1000 Employees
Tata Motors owners Jaguar Land Rover (JLR), the iconic automobile brand from England has already fired 1000 employees from their UK based factories and offices.
Jaguar Land Rover (JLR) is UK’s biggest automobile brand, and they have suffered 30% loss in revenue, ever since the coronavirus pandemic hit the country.
These terminations happened on June 16th, and the company spokesperson said, “Against the backdrop of the COVID-19 pandemic, the company has taken the difficult decision to reduce the number of contract-agency employees in its manufacturing plants over the coming months,”
In India, Tata Motors have suffered a massive loss of Rs 9894 crore in revenue for the 4th quarter of FY2020. A year back, for the same period, they had posted a profit of Rs 1100 crore.
It’s not yet clear from where will Tata Group start the layoff process in India, but going by the looks of it, it may start very soon.
We will keep you updated, as we receive more updates.