Biscuit-maker Parle could fire 8k-10k employees amid economic slowdown
India’s largest biscuit maker Parle Products Private Limited is contemplating laying off about 10,000 workers due to slowing economy.
Category head of the company said, “We have sought reduction in the GST on biscuits priced at Rs 100 per kg or below, which are sold in packs of Rs 5 and below. But if the government does not provide that stimulus, then we have no choice but to let go of 8,000-10,000 people. The slowing sales are severely impacting us.”
It may be noted that earlier in the month another popular biscuit maker Britannia Industries Limited’s Managing Director Varun Berry too expressed his concern over consumers ‘thinking twice’ while buying products worth just Rs 5. He said, “Obviously, there is some serious issue with the economy.”
Parle is popular for its Parle-G, Monaco and Marie brand of biscuits and has given employment to about one lakh people. It operates 10 company-owned plants and had 125 third-party manufacturing facilities.