India’s Top Biscuit maker Parle may cut up to 10,000 jobs Due to Economy Slowdown
India's leading biscuit maker Parle Products Pvt Ltd might lay off up to 10,000 workforce amind Indian economy slowdown.
The Biscuit company said falling demand in the rural heartland could cause production cuts.
A downturn in Asia’s third-largest economy is denting sales of everything from cars to clothing, forcing companies to curtail production and raising hopes that the India government will unveil an economic stimulus to revive growth.
A sharp drop in Parle’s biscuit sales means the company may have to slash production, which may result in layoffs of 8,000-10,000 people, Mayank Shah, category head at Parle. “The situation is so bad, that if the government doesn’t intervene immediately … we may be forced to eliminate these positions,” he said.
Parle, founded in 1929, empl...