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Parle may cut up to 10,000 jobs, slash production as slowdown bites

A sharp drop in Parle's biscuit sales means the company may have to slash production

Reuters 

Parle Products Pvt Ltd, a leading Indian biscuit maker, might lay off up to 10,000 workers as slowing economic growth and falling demand in the rural heartland could cause production cuts, a company executive said on Wednesday. A downturn in Asia's third-largest economy is denting sales of everything from cars to clothing, forcing companies to curtail production and raising hopes that the India government will unveil an economic stimulus to revive growth. A sharp drop in Parle's biscuit sales means the company may have to slash production, which may result in layoffs of ...

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First Published: Wed, August 21 2019. 12:13 IST
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