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Indian exporters sack 65,500 employees
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Indian exporters sack 65,500 employees
Wednesday, December 17, 2008: Bangalore: Hit by recession in the U.S. and European market, Indian exporters have sacked 65,500 employees.
Citing a sample survey of 121 firms from August to October 2008, the Labour Minister, Oscar Fernandes said in the Parliament that there were losses in export orders to the tune of Rs. 1,792 crore. The survey, conducted by Department of Commerce, collected responses from export firms belonging to the textile, leather, engineering, gems and jewellery, handcraft, food and food processing, minerals and marine products sectors.
The minister was answering a query on how employment is impacted due to a slowdown in industrial development, the closure of industrial units and global economic recession. He said the government has come out with fiscal measures to encourage confidence in the economy, drive growth and avoid large-scale job cuts.
Source:
http://www.siliconindia.com/shownews/Indian_exporters_sack_65500_employees-nid-5
Citing a sample survey of 121 firms from August to October 2008, the Labour Minister, Oscar Fernandes said in the Parliament that there were losses in export orders to the tune of Rs. 1,792 crore. The survey, conducted by Department of Commerce, collected responses from export firms belonging to the textile, leather, engineering, gems and jewellery, handcraft, food and food processing, minerals and marine products sectors.
The minister was answering a query on how employment is impacted due to a slowdown in industrial development, the closure of industrial units and global economic recession. He said the government has come out with fiscal measures to encourage confidence in the economy, drive growth and avoid large-scale job cuts.
Source:
http://www.siliconindia.com/shownews/Indian_exporters_sack_65500_employees-nid-5
