Parle may cut up to 10,000 jobs as slowdown bites


A downturn in Asia’s third-largest economy is denting sales of everything from cars to clothing, forcing companies to curtail production and raising hopes that the India govt will unveil an economic stimulus to revive growth. A sharp drop in Parle’s biscuit sales means the company may have to slash production, which may result in layoffs of 8,000-10,000 people.

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