Thousands of employees await a solution following the Company’s termination of franchise agreement with CPRL.
Browsing: Job Cuts
The move, a result of subdued market demand, is aimed to optimise operational efficiency.
The Shenzhen-based telecoms gear maker, is reportedly laying off about five per cent of its 60,000 strong global workforce.
The staff of the oil company were told that the office would be closed and they were facing ‘involuntary severance’.
The company is apparently planning to cut 3,000 jobs as part of the cost cutting and manufacturing unit shut-down plan.
The company will carry out an orderly ramp-down, chiefly in India, over the next few months.