New Delhi: India’s largest engineering and construction group Larsen and Toubro has cut about 14,000 jobs during the July-september quarter in view of business slowdown.
The decision was taken by the management to reshape under-performing businesses.
“It is important that we stay agile and cost competitive in these tough times. So, we are also looking at corporate functions and all other initiatives,” L&T Group’s chief financial officer R Shankar Raman told the media.
The company, however, has clarified that this is not a ‘recurring exercise’, but the business will take some to return to normalcy.