Workers employed at ACC and Ambuja Cement, which are owned by Adani, are feeling uncertain and anxious due to the owner’s decision to relocate various important positions to Ahmedabad, reported The Hindu Business Line.
The Adani Group acquired both companies last year, and their original headquarters were in Mumbai. However, since the acquisition, attention has shifted towards Gujarat. Furthermore, other significant leadership roles, such as those responsible for procurement, supply chain, health, and safety, have also been relocated from Mumbai.
As a result of this shift, employees who are under the supervision of these divisional leaders are faced with the challenge of either relocating to Ahmedabad or constantly traveling between Mumbai and Ahmedabad. This is especially difficult for those who have family responsibilities or personal obligations to attend to. Consequently, many employees are actively searching for alternative job opportunities.
Additionally, the employees at ACC and Ambuja Cement are facing multiple concerns, including a shift in focus towards Gujarat and the Adani Group seeking more time to repay debts worth $4 billion related to the companies. This has raised fears of potential job losses within the firms. The Adani Group has also faced allegations of accounting fraud and stock manipulation, with Hindenburg Research claiming that entities related to Gautam Adani’s brother, Vinod, held undisclosed stakes in Adani firms located in tax havens. If proven true, this could result in significant repercussions for the Adani Group.
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