Rico Auto Industries on Monday said it has laid off 119 permanent workers from its Dharuhera (Haryana) plant with effect from May 22.
In a regulatory filing, the auto-components maker said it had introduced VRS (voluntary retirement scheme) for its permanent associates inDharuhera facility in October, 2019 to rationalise manpower based on business demand.
However, only 42 associates out of 208 took the VRS and to run the plant on a sustainable basis the company needed to reduce the manpower
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