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Birla Corp to lay off staff at vinoleum division
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Birla Corp to lay off staff at vinoleum division
Birla Corp, the flagship company of the MP Birla group, has informed stock exchanges that a "layoff" would take place at its vinoleum division from Tuesday.
"Birla Corporation Ltd has informed BSE (Bombay Stock Exchange) that a layoff has been declared with effect from November 17, 2009 at the company`s unit, Birla Vinoleum, Birlapur on account of lack of demand of the product," it said in a statement.
Birla Corp is present in cement, jute, auto trim products, vinoleum, carbide and gases, and textiles.
The company is headed by Harsh Vardhan Lodha, son of the late RS Lodha - the disputed beneficiary of the MP Birla group chairperson Priyamvada Birla`s will that bequeathed the entire assets of the group to him.
The vinoleum division is in operation since 1991, with a production capacity of 48.6 lakh square metres of cushion vinyl flooring, PVC coated wallpaper, coated fabric and cellular plastic sheet.
The company in its annual report had earlier said: "The capacity utilization at the Birla vinoleum division of the company was lower mainly on account of slowdown in demand due to recessionary conditions."
Source:
http://economictimes.indiatimes.com/news/news-by-industry/jobs/Birla-Corp-to-lay
"Birla Corporation Ltd has informed BSE (Bombay Stock Exchange) that a layoff has been declared with effect from November 17, 2009 at the company`s unit, Birla Vinoleum, Birlapur on account of lack of demand of the product," it said in a statement.
Birla Corp is present in cement, jute, auto trim products, vinoleum, carbide and gases, and textiles.
The company is headed by Harsh Vardhan Lodha, son of the late RS Lodha - the disputed beneficiary of the MP Birla group chairperson Priyamvada Birla`s will that bequeathed the entire assets of the group to him.
The vinoleum division is in operation since 1991, with a production capacity of 48.6 lakh square metres of cushion vinyl flooring, PVC coated wallpaper, coated fabric and cellular plastic sheet.
The company in its annual report had earlier said: "The capacity utilization at the Birla vinoleum division of the company was lower mainly on account of slowdown in demand due to recessionary conditions."
Source:
http://economictimes.indiatimes.com/news/news-by-industry/jobs/Birla-Corp-to-lay
