Biscuit maker Parle could lay off 10,000 workers amid slowdown: Report
Live MintBengaluru: Parle Products Pvt Ltd, India's largest biscuit maker, may be forced to lay off up to 10,000 workers if a bruising consumption slowdown persists, the Economic Times daily reported on Wednesday. The news comes as a slowdown in Asia's third-largest economy has hit demand for everything from automobiles to retail products, forcing companies to curtail production and recruitment, while raising hopes that the Indian government would unveil an economic stimulus to revive growth. but if the government doesn't provide that stimulus, then we have no choice but to let go of 8,000-10,000 people," the Economic Times quoted Mayank Shah, category head at Parle Products, as saying. Earlier this month, biscuits maker Britannia Industries Ltd's Managing Director Varun Berry said consumers were "thinking twice" about buying products worth just 5 rupees.
History of this topic
Why Parle increased the price of its beloved biscuits
Live Mint
Parle-G records 'best sales', sells maximum biscuits during coronavirus lockdown
India TV News
Amid slowdown, Parle Biscuits net profit up 15% in FY-19, 2 months after company warned of layoffs
India TV News
Parle, India’s biggest biscuit maker, may cut up to 10,000 jobs as slowdown bites
Live Mint
Parle may cut up to 10,000 jobs as slowdown bites
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