Raymonds moving in for a massive lay off; plans to shell out 10, 000 employees
Raymonds, India’s apparel giant, is planning to upgrade its technology with robots and high-tech machinery. This move may sound very interesting for the readers, but it has a darker side as well. If the company goes ahead with the plan, it means that it will shell out 10,000 employees from its team as their positions will be filled by advanced machinery and robotics technology.
Company’s CEO, Sanjay Behl informed that Raymonds will be sacking about 10,000 employees from its manufacturing centres in the next three years, replacing them with robots and technology.
While addressing the crowd at an event organized at Lakes Institute of Management, Behl stated that Raymonds employs over 30,000 staff in their 16 manufacturing plants in the country. Roughly about 2,000 employees in each plant. Through technological intervention, company is looking to scale down the number of jobs to 20,000, through multiple initiatives in technology. One robot could replace around 100 workers. While it is happening in China at present, it will also happen in India. A team of experts is working on this technology implementation model under a close surveillance. He further added that company is now gearing to set-up its manufacturing plant in Africa.