Prime Time Zone, Webdesk: Mahindra & Mahindra, the country’s largest automaker, has fired a large number of executives. The company is reportedly looking into a crisis caused by Corona, which has fired 300 management executives due to weak domestic sales. Among those fired was VS Parthasarathy, president of Mahindra Mobility Services and a member of the executive board of the Mahindra Group. Also, it seems that there are many senior management executives.
The company has recorded a 28 per cent decline in auto sales so far in the current financial year. In addition the size of the industry fell by more than 13 percent. It is for this reason that the company is reported to have undertaken massive layoffs. There are indications that the Mahindra Research Valley will soon be sacked, as the auto and agriculture divisions have been evacuated as part of a restructuring drive to overcome the corona crisis and its aftermath.
‘We are taking necessary steps in the future as part of the restructuring of the organization. M&M Automotive and Farm Sector HR Rajeshwar Tripathi said that steps are being taken to simplify the company for higher productivity and faster growth.
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