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Downsizing fever catches Apollo Tyres - Views on News from Equitymaster
 
 
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  • Jun 11, 1999

    Downsizing fever catches Apollo Tyres

    The Raunaq Singh led Apollo Tyres has drawn up plans to trim its workforce to emerge as a leaner and more cost effective company.

    According to the Economic Times, the company is reviewing its staff requirements across all production and sales offices in a bid to optimise its work force. Currently, the company has a staff strength of 6,700 and internally, it is of the view that the staff could be pruned by 8-10% over a period of time. Over the past 2 years, Apollo has managed to reduce head count by 400 from 7,100 to 6,700.

    With the advent of MNCs into the already competitive tyre business, it has become imperative for companies to control costs and rationalise them. Meanwhile Apollo has declared a lock out at its Baroda unit due to labour unrest and differences between the management and the labour union over long-term wage settlement. Currently, the management is not in any mood to relent.

     

     

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