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2 Siemens switchgear plants reduce weekly working days
March 12, 2009 14:52 IST
Electronics firm Siemens said on Thursday it has temporarily reduced the working days in a week at its two switchgear factories to avoid unnecessary inventory build-up.
"The company has temporarily reduced the working days in a week at its switchgear factories in Aurangabad and Kalwa (near Thane) to avoid unnecessary inventory build-up," Siemens said in a regulatory filing to the Bombay Stock Exchange.
"These factories will adopt a 3-4 working days a week," it further said.
According to the company, some factories in the energy sector will also reduce their working week by a day.
"Aligning the production with expected market demand is an exercise for process optimisation, especially in view of the current economic slowdown," it added.
Shares of Siemens were trading at Rs 198.65, up 3.03 per cent in the afternoon trade on the BSE.