L&T to hire 1,500 people this year, company to focus on ensuring wider participation of women

L&T recently made a hostile takeover bid for mid-sized IT services firm Mindtree. However, the company's founders have resisted the unsolicited acquisition bid

Press Trust of India April 15, 2019 10:47:46 IST
L&T to hire 1,500 people this year, company to focus on ensuring wider participation of women
  • Business magazine Forbes had listed L&T among the 'World's Best Employers' for 2018

  • The list, based on Forbes' Global 2000 rankings of publicly traded companies in 60 countries, placed L&T at number 22

  • L&T has acquired CCD owner VG Siddhartha's 20.32 percent stake in Mindtree and placed order to pick up another 15 percent shares

New Delhi: Infrastructure giant Larsen & Toubro (L&T) plans to hire 1,500 people this year, the same as in previous years, a top company official said.

"The company's manpower strength stood at 42,924 as on 31 March, 2018 as compared to 41,466 as at 31 March, 2017. On an average, we hire close to 1,500 people across functions every year and we see no discontinuity in this practice unless business dynamics change drastically," Yogi Sriram, Senior Vice President - Corporate HR, Larsen & Toubro, told PTI.

Sriram added that L&T's employee attrition rate of around 5 percent was among the lowest in the industry.

L&T recently made a hostile takeover bid for mid-sized IT services firm Mindtree. However, the company's founders have resisted the unsolicited acquisition bid, citing differences in corporate culture and other factors.

Elaborating on L&T's HR practices, Sriram said: "We are putting a greater emphasis on ensuring wider participation of women and frame policies to enable their career growth."

LT to hire 1500 people this year company to focus on ensuring wider participation of women

Representational image. Reuters

Women employees are not just deployed in IT and finance roles, but are also present in core engineering jobs like heavy engineering shops, construction projects and defence engineering projects, he said.

Asked whether there will be job cuts as the company opts for digitisation, Sriram said, "There have been no lay-offs and the exits were limited to reasons of non-performance."

The company's Leadership Development Academy (LDA) at Lonavala has been set up for learning interventions, he said, adding that an artificial intelligence-driven digitalised platform, called ATLNext, caters to the learning needs of its workforce.

Business magazine Forbes had listed L&T among the 'World's Best Employers' for 2018. The list, based on Forbes' Global 2000 rankings of publicly traded companies in 60 countries, placed L&T at number 22, making it the highest-ranked Indian firm across all sectors.

L&T has acquired Cafe Coffee Day owner VG Siddhartha's 20.32 percent stake in Mindtree and has also placed an order with brokers to pick up another 15 percent shares from the open market. Besides, an open offer has been made to buy over 5.13 crore shares, amounting to about 31 percent stake.

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