After Maruti Suzuki, it’s Tata Motors to feel the heat. Production will be halted at Tata Motors block here for three days from tomorrow because of the ‘prevailing economic condition’, the company said. Mr. J. P. Singh, a Tata Motors Spokesperson said: “A block closure has been announced from June 28 to 30 in the Jamshedpur Plant”.
As for the reason, the company blames the market slowdown. Mr. Singh told PTI: “We are market driven company that is why we have taken the decision”. Considering the inventory, the company has decided to cut production for three days. “The block closure was taken in view of the quarterly closing as we cannot pile up inventory”, Mr. Singh also added.
This decision was taken with a meeting and consent of employees. As a matter of fact, production has dropped in last two months and was almost negligible since June 23. 50 per cent of the block closure would be adjusted against leave of employees and the remainder would be borne by the company.
News Source: Economic Times