India's car maker Maruti announces 3000 job cuts amid slowdown

Source: Xinhua | 2019-08-28

India's car maker Maruti Suzuki, which enjoys more than 50 percent share in the country's car market, has decided to retrench as many as 3000 temporary employees to minimise costs amidst overall slowdown in the automotive sector.
Media reports on Tuesday quoted the company's Chairman R.C. Bhargava as saying that the decision was taken as the automaker was battling to maintain its rising inventory due to a sharp decline in demand in recent months.
Bhargava reportedly announced this while speaking at a shareholders' annual general meeting on Tuesday.
Vehicles sales in India has declined over the past nine straight months, with other key players in the industry also resorting to halt production in order to check production costs.