Moneycontrol
Jan 24, 2017 10:15 PM IST | Source: CNBC-TV18

Demonetisation: Hero Moto & Honda put 800 contract workers on unpaid leave

The note ban pain is felt by the 800 workers of the country's top two-wheeler giants, who have been put on the bench as the companies wait for demand to get back to normal.

The note ban pain is felt by the 800 workers of the country's top two-wheeler giants, who have been put on the bench as the companies wait for demand to get back to normal.

Both Hero Motocorp and Honda Motorcycles, after reporting a big drop in volumes last month, have sent a part of their contract workers on an indefinite leave without pay, reports CNBC-TV18.

Small players have not resorted to such measures, but the scenario for them too is not looking great.

However, few experts believe that the pain may not last long. Volumes in tier-I and tier-II cities are back to the pre-demonetisation level, but rural areas continue to feel the pinch.

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