Hyderabad, 3 September: Hurt by subdued markets and economic slowdown, Lanco Group, which has interests in infrastructure, power and realty segments, has retrenched about 50 per cent of its 8,000 workforce during the last 15 months as its projects suffered, sources said.
The group has cut down its workforce to 4,000 by the end of March this year and around 400 employees so far in the current fiscal. The group currently has 4,100 to 4,200 employees, sources said.
“While around 3,500 people were given pink slips during the last financial year (2012-13), around 400 employees were asked to leave during the last quarter,” sources said. pti