Chennai-based commercial vehicle manufacturer and Hinduja Group owned company, Ashok Leyland announced financial results for the third quarter of current financial year.
The company, under the impact of lower sales due to economic slowdown, posted decline of 82.64 per cent in net profit for the Q3 ended December, 2008. It stood at just Rs 21.09 crore in the reporting quarter as compared to Rs 121.49 crore during the same quarter last year.
Oil Marketing Companies (OMCs) have threatened to stop supply of aviation turbine fuel (ATF) to Kingfisher Airlines by midnight, in case, the carrier remains fail to clear its dues worth Rs 158 crore.
It should be recalled that oil marketing companies have already decided to supply ATF to private carriers Kingfisher and Jet Airways on 'cash and carry basis' from January 27. These carriers have been found defaulter of non-payment of oil dues for October 22 to October 31, even after crossing of 90-day credit period.
India's largest IT exporter, Tata Consultancy Services (TCS) is all set to call back about 20 per cent of its onsite staff in US to India, clearly to cut costs and mitigate impact of global slowdown on its overseas operations. The company is facing low demand with no new contracts from clients across the globe.
India's largest passenger carmaker, Maruti Suzuki, has decided to hike prices of its various models following foreign currency fluctuations and rise in input prices. The prices have been revised in the range of Rs 5,000-10,000 and would be effective from January 28 onwards. However, prices of economy-end vehicles like M800, Omni, Alto, WagonR, Zen Estilo, Gypsy, and Versa besides the SUV Grand Vitara were not increased.
In a bid to cut costs and ensure adequate growth rate, internet giant, Yahoo Inc. has decided to freeze salary hikes of its employees for the financial year 2009.
The company, visibly upset over low revenue and falling profit, would also employ some other cost cutting measures to keep costs in line with revenues and to mitigate the impact of global slowdown on its business.
Tata Group owned and Europe's second largest steel manufacturer, Corus may start retrenchment drive in the days to come, clearly, to cut costs and ensure adequate growth amid recessionary waves prevailing across the world.
The workers, whose future is hanging in dark, following the reports of large scale lay offs by company, are seeking appointment with authority concerned to resolve all matters related to wages and production cut.
Chennai-based commercial vehicle manufacturer and Hinduja Group owned company, Ashok Leyland announced financial results for the third quarter of current financial year.
Oil Marketing Companies (OMCs) have threatened to stop supply of aviation turbine fuel (ATF) to Kingfisher Airlines by midnight, in case, the carrier remains fail to clear its dues worth Rs 158 crore.
India's largest IT exporter, Tata Consultancy Services (TCS) is all set to call back about 20 per cent of its onsite staff in US to India, clearly to cut costs and mitigate impact of global slowdown on its overseas operations. The company is facing low demand with no new contracts from clients across the globe. 
India's largest passenger carmaker, Maruti Suzuki, has decided to hike prices of its various models following foreign currency fluctuations and rise in input prices. The prices have been revised in the range of Rs 5,000-10,000 and would be effective from January 28 onwards. However, prices of economy-end vehicles like M800, Omni, Alto, WagonR, Zen Estilo, Gypsy, and Versa besides the SUV Grand Vitara were not increased.
In a bid to cut costs and ensure adequate growth rate, internet giant, Yahoo Inc. has decided to freeze salary hikes of its employees for the financial year 2009. 
Tata Group owned and Europe's second largest steel manufacturer, Corus may start retrenchment drive in the days to come, clearly, to cut costs and ensure adequate growth amid recessionary waves prevailing across the world.
