Old Heavyweights Take Lead In Downsizing

Behind glitzy launches of swank new models, several leading Indian automobile companies have been handing over pink slips. Worst hit are commercial vehicle manufacturers like Tata Engineering and Ashok Leyland who have seen a dip in business thanks to the economic slowdown, scooter producers like Bajaj Auto Ltd and LML Ltd who are faced with a dwindling market and car producers like Hindustan Motors and Daewoo India, left behind in the marketplace by their nimble-footed rivals.

Still, there are companies like Maruti Udyog and Hero Honda who have not had to prune their workforce owing to better cost management as well as growing sales.