By Reuters | New Delhi |
Topics automobile sector
Slumping sales of cars and motorcycles are triggering massive job cuts in India's auto sector, with many companies forced to shut down factories for days and axe shifts, multiple sources said.
The cull has been so extensive that one senior industry source told Reuters that initial estimates suggest that automakers, parts manufacturers and dealers have laid off about 350,000 workers since April. Within this previously unreported figure, car and motorcycle makers have laid off 15,000 and component manufacturers 100,000, with the.....
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