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Last Updated : Nov 23, 2016 01:46 PM IST | Source: Moneycontrol.com

In 6 months, L&T gave pink slips to 14,000 employees

The workforce-retrenchment exercise, done as part of digitisation and productivity enhancement initiative, was carried out over six months to September.

 
 
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In one of the biggest layoffs the country has witnessed, engineering services firm Larsen & Toubro has let go of 14,000 employees. The exercise is the company’s bid to “right size” its workforce amid a business slowdown, The Economic Times reported Wednesday.


The workforce-retrenchment exercise, done as part of digitisation and productivity enhancement initiative, was carried out over six months to September.

L&T Chief Financial Officer R Shankar Raman said the move was a “correction” and shouldn’t be take as a sequential measure.

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First Published on Nov 23, 2016 08:27 am
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