LMW TO DOWNSIZE
Article Abstract:
Lakshmi Machine Works Ltd (LMW) of Coimbatore, a textile machinery producer, plans to reduce its employees by 15-20 percent. It is offering a voluntary retirement scheme (VRS) to its employees. The VRS is applicable to the employees who have either completed 10 years of service or have either completed 40 years of age. It is offering 45 days pay for every completed year of service. LMW proposes to set up a special fund for VRS compensation and make a one-time payment to the employees opting for the scheme. (ag)
Comment:
Plans to reduce employees by 15%-20% and offers voluntary retirement scheme to employees
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MRF PROFIT RISES DESPITE FALL IN SALES
Article Abstract:
MRF Ltd, a tyre producer, has posted a 64.17 percent rise in its net profit during the fourth quarter ended September 1998. The rise in the profit is attribute to a huge rise in the other income. During the period, MRF posted a fall in sales and the total expenditure. The financial performance of the company for the period are given. (ag)
Comment:
MRF Ltd, a tyre producer, has posted a 64.17 percent rise in its net profit during the fourth quarter ended September 1998.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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