TRIMMING DOWN FOR TOUGH TIMES
Article Abstract:
The Rs600 crore Tube Investments (TI), manufacturer of steel tubes, pressed steel and bicycles, is pruning its staff. It is merging many departments. TI has reduced its managers from 1,000 to 800 and introduced a voluntary retirement scheme for the workers. The performance of TI in the last 2 years suffered due to the large inventory and fall in demand. Between 1996-97 and 1997-98, the sales of TI increased by just 1 percent and the net profit halved due to higher depreciation and interest costs. To overcome this situation, TI has proposed to manufacture more special, sporty bicycles where the margins are higher, compared to the standard black utility bicycles. It also plans to manufacture more of wide width steel which can be used for the entire range of white goods. (gsh)
Comment:
Reduces number of managers from 1,000 to 800 and introduces voluntary retirement scheme for workers
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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BOOK VALUE
Article Abstract:
As a marketing strategy, Mumbai's mega book-shop - the Crossword - has opened a cafe in its premises to attract the customers to spend more time in the shop and buy more books. Tables and chairs have been placed around the store for shoppers to browse at leisure. The Crossword has a new simplified logo, Gill Sans, which has now been identified across all the store's signages, bags, cards and stationery. This unified identity will be implemented in all its outlets in Delhi, Mumbai and Ahmedabad. Recently, a new franchised operation was started in Pune and a fifth outlet in Nasik is due to start in September 1998. Crossword outlets will be opened in Baroda, Surat, Calcutta and Kochi also and a second suburban store in Mumbai. (gsh)
Comment:
Opens new cafe in its premises to attract customers to spend more time in the shop and buy more books
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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