Ceat lays off employees at Bhandup for 2 days
ERJ staff report (DS)
Mumbai, India -- Ceat Ltd said it has laid off workers for two days at its factory in Bhandup, Mumbai on Thursday and Friday of this week (4, 5 Sept, 2008.)
The company issued a statement to the Mumbai Stock exchange (BSE) saying, "This decision was necessitated due to excess of inventory at the factories due to overall slow down in tyre sales on account of gloomy competitive market scenario. This decision has been taken in agreement with the Union of the Workmen."
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
Announcement by Ceat on BSE
This article is only available to subscribers - subscribe today
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
- Every issue of European Rubber Journal (6 issues) including Special Reports & Maps.
- Unlimited access to ERJ articles online
- Daily email newsletter – the latest news direct to your inbox
- Access to the ERJ online archive