Comments
As many as 200 employees working at Pipavav Defence and Offshore Engineering could lose their jobs following the company’s acquisition by Anil Ambani-controlled Reliance Infrastructure last month.
This will be part of a restructuring exercise that Reliance Infrastructure plans to undertake to tap synergies between the two companies.
Apart from its port office in Amreli in Gujarat, Pipavav Defence has a corporate office in Mumbai and regional offices in Delhi, Ahmedabad, Kolkata, Ludhiana and Jaipur.
The company has 700 direct employees under Pipavav Defence & Offshore Engineering and another 1,300 in subsidiary companies.
According to sources, the impact could be felt by employees mostly outside the Pipavav region in Gujarat. “There could be job cuts in non-production areas such as finance and accounts,” said an executive, adding the affected employees could be absorbed in other businesses under the Anil Ambani Group.
“Both Pipavav and Reliance have a presence in Mumbai and Gujarat so those who lose their jobs at Pipavav can easily be placed in other roles,” the executive added.
A spokesperson for Reliance declined to comment. The company’s acquisition of a controlling stake in Pipavav Defence and Offshore Engineering last month is one of the biggest in the defence sector.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.