Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M), India’s leading SUV manufacturer, has reportedly handed over pink slips to 500 temporary workers and may be forced to defer its capex plans. The auto company reduced employee strength by 500 over last two months. Further, the company has also warned that there could be more cuts in employee strength if shutdown continues post July.

As a part of aligning its production with sales requirements, the company would be observing 'No Production Days' at its Automotive Plants for a period ranging from 1 to 8 days during the remaining period of July, 2013.

Mahindra & Mahindra is the flagship company of the Mahindra Group. The company’s core automotive and farm equipment businesses have grown into market leaders whose triple bottom line ethic is driving industry trends towards technological innovation, social responsibility, and constantly improving customer satisfaction.