Job cuts statement by India’s Assocham irresponsible - Union Minister

(RTTNews) - The Deputy Chairman of the Planning Commission and Minister of State for Commerce, Jairam Ramesh came down heavily on the Associated Chambers of Commerce and Industries of India (Assocham) after the trade body forecast that about 25 to 30% jobs in key sectors will be slashed in the next ten days, according to media reports released on Friday. “It is irresponsible on the part of Assocham to make such an outrageous statement,” remarked Jairam Ramesh while speaking to journalists in Bangalore. “The industrial bodies should stop making scary headlines in a bid to arm twist policies,” the minister noted. “It is okay if the Assocham is saying that there will be a reduction in the additional jobs to be created. But, saying that the existing jobs will be cut is an irresponsible statement,” he added.

On Wednesday, a press release by Assocham said that the job cuts would be across the steel, cement, construction, real estate, aviation, IT-enabled services and financial service sectors. According to Assocham President Sajjan Jindal, major companies have drawn up plants to curtail their workforce. The decision is painful, but there is no other alternative, the report said.

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