ECE Industries curtails staff and labour force by 40%

18 Jul 2012 Evaluate

ECE Industries has decided to curtail staff and labour force by 40% with immediate effect. This step has been taken by the company in order to contain operating losses.

The requirement of transformers has fallen drastically due to the slowdown in infrastructure sector and liquidity crunch with almost all the electricity boards who are company's main customers. In pursuant to this, the company currently does not have sufficient orders to run its full operations due to which it had taken the above mentioned step.

ECE Industries is in the business of manufacture of transformers catering to state utilities and industrial consumers. Apart from that the company is also present in the manufacturing of elevators. It currently has manufacturing units located at Sonepat.

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