Mahindra & Mahindra has announced a major revamp for its two-wheeler arm, Mahindra Two Wheelers, to turnaround its business. Sales have been lower than expected, and there are reports that the company will lay off jobs to bring costs in control.
Pawan Goenka, executive director, Mahindra & Mahindra, said, “Volumes have not been as planned. We right-sized and gave Voluntary Retirement Scheme (VRS) to 250 people. We are evaluating the way forwards for the two-wheeler business. A formal announcement will be made in the next few...
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Updated Date: Jul 07, 2016 20:48:22 IST