India's Largest Biscuit-Maker Parle May Fire Up To 10,000 Amid Slowdown

HIGHLIGHTS

1. Parle category head says company may have to cut biscuit production
2. Slowing economic growth, falling rural demand could cause production cuts
3. Parle employs about 1,00,000 people, including direct, contract workers

Parle Products Pvt Ltd, the country's largest biscuit maker, might lay off up to 10,000 workers as slowing economic growth and falling demand in the rural heartland could cause production cuts, a company executive said on Wednesday.

A downturn in Asia's third-largest economy is denting sales of everything from cars to clothing, forcing companies to curtail production and raising hopes that the government will unveil an economic stimulus to revive growth.

A sharp drop in Parle's biscuit sales means the company may have to slash production, which may result in layoffs of 8,000-10,000 people, Mayank Shah, category head at Parle, said in a telephone interview from Mumbai.

Source: https://www.ndtv.com/business/parle-could-lay-off-10-000-workers-amid-slowdown-report-2088139