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Old 7th July 2016, 12:10   #1
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Default Mahindra 2-Wheelers provides VRS scheme to 250 workers

As a result of an undisclosed vertical's inability to meet expectations, Mahindra 2 Wheeler has given the voluntary retirement scheme to 250 workers from this vertical. A formal announcement will be made in the next couple of months.

Director Pawan Goenka said that they were unlikely to exit the 2 wheeler business despite the blow of 12.7% in 2015-16. He also confirmed the participation of Pininfarina, an Italian design firm it acquired the last year in the development of new vehicle.

Earlier, it decided to reduce the workforce from 1,100 to 400.

Source : http://auto.economictimes.indiatimes...rkers/53081157
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