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Vedanta to reduce staff; cut cost by 30%
March 16, 2009 15:14 IST
Vedanta Resources, a global metal and mining company led by Non-Resident Indian billionaire Anil Agarwal, is looking to rationalise its workforce and reduce overall costs by 30 per cent to tide over the global economic downturn.
"Wherever rationalisation is required we will look at it. It could be very small. Since we are expanding, we are looking to use the workforce as much as possible," Vedanta Resources Group Chairman Anil Agarwal told PTI.
Not divulging any specific detail about workforce rationalisation, Agarwal said, "There is no more comfort zone left and the existing employees need to concentrate 110 per cent (on work)."
Besides optimal utilisation of its existing workforce, Vedanta intends to reduce its overall expense by 30 per cent by adopting efficient practices at workplace and harmonizing fresh intake of employees in tune with its expansion plans.
"Across the company we are looking at 30 per cent reduction in (overall) costs," Agarwal said.
When asked if the company will cut jobs to reduce the mounting input pressure, Agarwal said, there are no immediate plans in place, but the company will take a view if there are surplus employees even after rationalisation of the workforce.
"We are expanding our capacity and (we are seeing) how we can adjust (our) people and then we will come to a stage when we will realise whether we have surplus people (or not) and if we have surplus people then we will take a view," he said.