Ashok Leyland to Cut Production
Hinduja Group flagship company, Ashok Leyland Ltd. plans to keep its factories closed for three days per week, in order to cut down production, to keep pace with the current slowdown in demand.
ALL factories - six units spread across Tamil Nadu, Rajasthan and Maharashtra - will continue to operate at 50% capacity till December this year, when the company will review the situation, and decide when it wants to resume full production again.
However, even though ALL will run its factories for only three days per week, there will be no worker layoffs. In fact, workers will not even lose their wages, though they will compensate the company by working on weekends and other holidays once full production resumes.
For October 2008, Ashok Leyland reported total domestic sales of 2,976 units, as against 6,280 units in the year-ago period. For the period April-October 2008, ALL's total domestic sales stood at 35,302 units, as against 40,326 units during the same period last year.
[Via: indiaautomotive]