Automotive giant Tata Motors has decided to halt their production line for three days due to 'prevailing economic condition.' the company informed media today. "A block closure has been announced from June 28 to 30 in the Jamshedpur plant.” Tata Motors spokesman P J Singh said. "We are market driven company that is why we have taken the decision," he added. This move from Tata Motors comes as no surprise considering the low state of the current market economy regarding automobile sales. According to many statistics, the month of June has been an all time low for car sales.
According to officials this new move is implemented with the current market conditions in mind. The block closure has been implemented due to the quarterly closing in order to avoid undue pile-up on their inventory. This move has been done with the consent of the workers and the Telco Workers Union. According to the general secretary of the union, Chandrabhan Singh, 50 per cent of the cost of this closure would be borne by the company itself and the rest would be adjusted against the employee monthly leaves. About 10,000 employees will be affected by this move followed by the weekly off that is Sunday.
