After reporting net loss in its
Q1FY14, Ashok Leyland has slashed its total investments by almost one-fourth to
Rs 400 crore this year to protect costs. The company also resorted to lay off
its temporary workforce last quarter that resulted in 1,300 job cuts in
addition to a 5% salary cut for the executive cadre, which resulted in savings
of Rs 10 crore. Thursday, July 18, 2013
Epic Update : Ashok Leyland
After reporting net loss in its
Q1FY14, Ashok Leyland has slashed its total investments by almost one-fourth to
Rs 400 crore this year to protect costs. The company also resorted to lay off
its temporary workforce last quarter that resulted in 1,300 job cuts in
addition to a 5% salary cut for the executive cadre, which resulted in savings
of Rs 10 crore. 
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