In an indication that the crisis in IL&FS is likely to translate into job losses, the Uday Kotak-led board has said that it will bring down total manpower of the group by approximately 65%, which will result in a 50% reduction in its wage bill. The new board said that it will be taking up ‘manpower optimisation’ initiatives across the IL&FS Group in two phases.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2SvFqHE
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