Tamil Nadu government has signed two major MoUs in the electronics manufacturing segment in January. The state is expected to formalize agreements with Taiwan-based Pegatron and Tata Electronics around the Pongal festival to facilitate establishing units to manufacture Apple products, multiple sources said. Pegatron, a Taiwan-based manufacturer of Apple products has chosen Mahindra City as…
British luxury car manufacturer Bentley Motors recently announced that it is planning to lay off a quarter of its workforce, or about 1,000 jobs due to the impact of the coronavirus pandemic on the automobile industry. With the recent announcement, Bentley is the latest premium British firm to make significant job cuts following the coronavirus…
India’s once household bicycle brand, Atlas Cycles recently announced that it has laid off about 700 employees as the company closes its last manufacturing unit in Delhi-NCR due to the lack of capital to run operations. However, company Chief Executive Officer NP Singh Rana claimed that the shutdown is temporary and the operations will be…
Textile and apparel manufacturer Raymond has recently laid off about hundreds of employees across departments in a cost-cutting drive amid coronavirus pandemic. According to a Business Insider report based on a viral Reddit blog post, the layoffs began as early as February as the group debt was already too high and a slowing economy was…
Indian smartphone maker Lava recently said that it will shift its production base from China to India. The company will reportedly also shift its design center, which employees 600 people, to the country. According to a Business Standard report, the recent move is because of the government’s new Production Linked Incentives (PLI) for manufacturers in…
Adventure camera maker, GoPro, recently announced that it has done massive organizational changes at the company. Taking into account the impact of the coronavirus pandemic, the company is laying off 20% of its workforce to conserve cash. GoPro has announced a $100 million reduction to 2020 operating expenses including a workforce reduction of more than…
California-based dynamic glass maker, View has recently laid off an unknown number of employees. These layoffs are also made from the company’s plant in Olive Branch, Mississippi. View specializes in making dynamic glasses that are designed to reduce heat and glare as well as lessen eyestrain. View touts its glass as a way for real…
SGO, a bearing manufacturer located in Incheon, Korea, announced that it had established a local subsidiary in India late last year to meet the demand for its popular bearings in the worldwide bearing market. SGO has already purchased 13,000 square metre of land in Chennai, India, and has decided to invest more than $4.5 million…