ET had written about the companys VRS plans on June 3, 2014, and this is the first time Foxconn is making it official. The company put up a circular on this on the notice board at its facility in Chennai.
“Due to the companys continuous fall in business and fall in production and because of the acuteness of the situation and with no other way to manage the situation, the company will take necessary actions in accordance with the law. Because of having been pushed to this situation, we would like to convey to all the operators that the management is considering to approach the government to opt for layoff/retrenchment options,” it read.
On June 16, the management of FIH India had a meeting with the Assistant Commissioner of Labour in Sriperumbudur, the area in which the company is located.
“They FIH India have given a petition to the government to reduce their workforce by 600 employees. CITU has objected to it,” said S Kannan, district president of Kancheepuram, Centre of Indian Trade Unions CITU. “We have urged the government not to accept it.”
Chosen excerpts by Job Market Monitor. Read the whole story at Foxconn India announces layoffs – The Times of India.