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Lay off at Transformer factory, Sonepat

| Updated on July 17, 2012 Published on July 17, 2012

ECE Industries Ltd has informed BSE that in view of the slowdown in Infrastructure Sector and liquidity crunch with almost all the Electricity Boards who are Companys main customers, the requirement of transformers has fallen drastically. The Company currently does not have sufficient orders to run its full operations.

Under the circumstances, it has been decided to curtail staff and labour force by 40% with immediate effect. This step has been taken to contain operating losses.

Source : BSE - >www.bseindia.com

Published on July 17, 2012
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