In a bid to make the company more frugal and concentrate on lean manufacturing, Tractor manufacturer Escorts is planning to cut around 800 jobs by March 2015. In this regard, the company has started the process of reducing workforce and has offered a voluntary retirement scheme to around 300 people, apart from a few who were asked to leave for ‘non-performance’ and some who are retiring in the coming months.
In the recent past, the company had asked many employees from various verticals to leave as well as over 65 people from the senior management who were not performing.
The company has around 5,000 (blue collar and white collar) permanent employees right now, which would be brought down to around 4,200 by March 2015.
Escorts offer a comprehensive range of tractors with more than 45 variants starting from 25 to 80 HP. The company also manufactures and markets a diverse range of equipments like cranes, loaders, vibratory rollers and forklifts.
