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<img class="alignleft" style="margin: 8px;" title="Mahindra Logo" src="http://www.carzy.co.in/blog/wp-content/uploads/2012/08/Mahindra.jpg" alt="" width="200" height="133" />Mahindra and Mahindra, the UV maker is planning to reinstate Ssangyong employees that were sacked by the South Korean manufacturer in year 2009 due to critical liquidity crisis. So now M&M has decided to take back the entire laid off staff in coming two to three years, as mentioned by president (automotive and farm equipment sectors) of Mahindra, Mr. Pawan Goenka.
Ssangyong was in deep shell in year 2009 when it sacked around 2,600 employees, which is almost 37% of its total workforce due to crisis and then later Mahindra acquired Ssangyong in November 2010.
Mr. Goenka also stated, “We kept all the aspects behind us at the time we purchased Ssangyong in 2010. And therefore there is nothing that we have initiated in terms of layoffs since we took over. So hiring back old employees is our next step as business conditions of the company improve and sales profits increase. Though this is our initial plan but we cannot implement it immediately in an overnight.”
He also said that its South Korean company Ssangyong is posting good sales growth with commendable overall volumes last year and this is really significant for the brand’s further progress in the market.
Overall sales volumes have been flat in 2012 in contrast to last year and so the company is still waiting for good growth in order to hire back all these people, who worked for Ssangyong earlier. May be in the coming two-three months, Mahindra will start working on the same and may take atleast two to three years to reinstate the complete workforce.
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