The vehicle industry Maruti Suzuki is facing one of its worst slowdowns in nearly a decade, with vehicle sales falling rapidly. There is little sign of a swift revival.
The company has asserted that it had cut the number of its temporary workers to cope with a slowdown in auto sales, adding to the jobless problem in Asia’s third largest economy
Two sources familiar with the matter said the company would freeze hiring new employees until the downturn reversed.
india’s jobless rate rose to 7.51% in July 2019 from 5.66% a year earlier, according to private data group CMIE. Those figures do not include many people on the margins of society who are day labourers and are often unemployed or underemployed.
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