Tata Motors to lay off white collar jobs

Mumbai, MAY 24: Another shocking news from Tata motors. The company has announced that it would cut 1500 Managerial jobs.

The company said that we will reduce the managerial workforce by 10-12 percent as part of an organizational restructuring exercise. The news was shared by the company when its quarterly results were released yesterday.

Speaking to media after the event the company CEO Butschek said that only the white collared personnel were affected by the VRS which they had opted.

The company also revealed that the affected employees were given the option of voluntary retirement before they are removed from the company.

While some retired or resigned and some were moved to new roles within the company and the others were transferred to the company's services arm -Global Delivery Centre (GDC).



The main results of the company are as follows:
# For the fourth quarter of the 2016-17 financial year, Tata Motors has reported a lower consolidated net profit of Rs 4336 crores.

# The profit was reduced by 17 percent as compared to Rs 5211 crores reported in the previous fiscal.

# The total profit of the company in last financial year was Rs 269,850 crores.

# Tata's British brand Jaguar Land Rover has recorded a 13 per cent increase in sales.

Finally, the company assured that no blue-collar employees would be affected by the restructuring of the company.