Maruti Suzuki cuts 3,000 contract jobs

By: |
Updated: Aug 27, 2019 6:19 PM

The company is on track to meet the country's new emission norms, adding that the company will move towards manufacturing compressed natural gas (CNG) and hybrid cars.

Maruti Suzuki, Maruti Suzuki india, Maruti Suzuki jobs, Maruti Suzuki contractual jobs, temporary employees, industryMaruti plans to increase CNG vehicles by 50% this year, Bhargava said. (Reuters)

Maruti Suzuki India Ltd Chairman R.C. Bhargava said on Tuesday the company had not renewed the contracts of 3,000 temporary employees, as the automaker battled rising inventory amid a slowdown in demand. Safety norms and higher taxes have “added substantially” to the cost of cars, affecting their affordability, Bhargava told shareholders at the company’s annual general meeting. With India’s auto sales declining for the ninth straight month in July, more automotive manufacturers are laying off workers and temporarily halting production to keep costs in check, Reuters reported on Saturday.

The company is on track to meet the country’s new emission norms, adding that the company will move towards manufacturing compressed natural gas (CNG) and hybrid cars. Maruti plans to increase CNG vehicles by 50% this year, Bhargava said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Trai drops probe against Vodafone Idea on priority plan issue after telco tweaks offer
2Steel ministry moots Rs 3,346-crore aid to up domestic output
3International arbitration: Vodafone wins Rs 22,000-crore retrospective case against tax department