Lanco Infratech to reduce workforce by nearly 20%

23 Apr 2013 Evaluate

Lanco Infratech is reducing its workforce by nearly 20%, as a part of the consolidation strategy to save cost. It has been making financial losses on lower margins, capitalization and soaring interest charges. In the first three quarters of 2012-13, it has reported the loss of Rs 990 crore.

It is seen slashing its employee cost by 7-10% every quarter. The entity has reported employee cost at Rs 185.8 crore in the first quarter of 2012-13, which reduced to Rs 167 crore in the second quarter. It was further reduced to Rs 155 crore in the third quarter of the last fiscal year.

Peers
Company Name CMP
Larsen & Toubro 2093.85
Rail Vikas Nigam 72.00
KEC International 422.40
NCC 79.25
Ircon International 64.85
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