JCB India has laid off 400 permanent employees in order to adjust its workforce with a dip in demand due to the coronavirus-induced lockdown.
The company said demand for its products in May and June has dropped by 80 per cent as compared with the corresponding period last year due to the current situation. According to a JCB India spokesperson, "The construction equipment sector, like many other sectors, has been adversely affected due to COVID-19. As construction activity slowed down, there was almost no demand for construction equipment in the month of April.”
The spokesperson also said, "Our business has thus been severely impacted. We have had to take the difficult and painful decision of re-organising our staff strength across levels to tide over this extraordinary situation which has led to 400 job roles becoming redundant.”
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