• Home
  • Industry
  • Major biscuit brand may Fire Up To 10,000 hireling

Major biscuit brand may Fire Up To 10,000 hireling

Parle Products, India’s largest biscuit maker may end up letting go of 8,000-10,000 employees, the company said on Tuesday. The main rationale why the company has taken this decision due to the economic mess in the country. In their affirmation has said have sought a reduction in Goods and Services Tax (GST) on biscuits priced at Rs 100 per kg or below, which are usually sold in packs of Rs 5. The company added the government does not provide that stimulus, then the company might have to lay off 8,000-10,000 employees.

But Why Is parle taking this step

Here is some major prong…

  • Parle Products employs 1 lakh people and operates 10 company-owned plants. It also maintains 125 third-party manufacturing facilities. More than half of Parle’s over Rs 10,000 crore sales come from rural markets.
  • Parle Products category head Mayank Shah told the Economic Times that weakening demand is because of increased GST on biscuits, which is only worsened by the absence of adequate government stimulus. “We have multiple biscuit brands that are aimed at mid- and low-income consumers which form the core consumer base of a category such as ours, and we are hoping the GST increase will be rolled back if the government wants to revive demand,” Shah told the daily.
  • Biscuits priced at Rs 100 per kg or below were taxed 12 per cent under the previous tax regime. However, once GST was introduced, all biscuits – premium and lower-priced – were fixed at 18 per cent, which forced companies to increase the prices. Shah said that
  • Parle increased the prices by 5 per cent leading to a declining in sales
  • Other Major biscuits makers also raise a concern …
  • Similar concerns were expressed by Britannia – another biscuit and dairy products company. Britannia MD Varun Berry said that consumers were hesitating to even buy even products worth Rs 5.

It’s very strenuous Parle will be firing 10,000 workers soon but the government of India is not taking any steps to ameliorate the country’s economy

Related posts

Are Bricklins Creating Problems for the Environment


Gold is becoming exorbitant day by day


Maruti Suzuki to lock down its plants in Haryana for 2days



http://www.manitobabbs.com/space-uid-244351.html August 23, 2019 at 5:28 am

Particularly correctly crafted material.
It’s going to be beneficial to every person which utilises the item,
this includes me and my friends. Keep doing your work * can’r delay to read
more discussions.

Chrinstine August 23, 2019 at 11:30 pm

I will immediately snatch your rss feed as I can not to find your email subscription link or e-newsletter service.
Do you’ve any? Kindly let me realize so that I may just subscribe.
Thanks. I’ll immediately clutch your rss as I can’t in finding
your e-mail subscription link or newsletter service.
Do you have any? Please permit me understand in order that I may just subscribe.
Thanks. Ahaa, its nice conversation concerning this paragraph at this place at this webpage, I have read all that, so at
this time me also commenting here. http://ford.com

John August 25, 2019 at 11:18 pm

I am sure this paragraph has touched all the internet viewers, its really really
pleasant paragraph on building up new web site. Ahaa, its good conversation about this article at this place at this website, I have read
all that, so at this time me also commenting here. Greetings from Colorado!
I’m bored to tears at work so I decided to check out your website on my iphone
during lunch break. I really like the info you present here and
can’t wait to take a look when I get home. I’m amazed at how fast
your blog loaded on my cell phone .. I’m not even using
WIFI, just 3G .. Anyhow, fantastic site! http://ford.com


Leave a Comment