Ashok Leyland Declares 5 Non-Working Days At Chennai Plant From Today Amid Slowdown

Workers at the Chennai plant received a communication from Ashok Leyland about the five-day holiday, sources told NDTV.?

Sluggishness and contraction in the commercial vehicle market have led to the move by Ashok Leyland, company sources said.

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Around 5,000 workers at the plant, including 3,000 contractual personnel will be affected due to the move sources said. The wages for non-working days will be decided later, they added.?

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The development comes as the country's auto sector is struggling against a slump in sales and lakhs of estimated job cuts.

Shares of Ashok Leyland on Wednesday fell over 4 per cent after the company reported a 47 per cent decline in total commercial vehicle sales?at 9,231 units in August.

The company had posted sales of 17,386 units in the year-ago month, Ashok Leyland said in a statement

Meanwhile, Union Minister Road Transport and Highways Nitin Gadkari on Thursday assured the crisis-hit automobile industry of all possible support from the government, including taking up the demand of GST reduction with Finance Minister Nirmala Sitharaman.

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He also stated that the government had no intention to ban petrol and diesel vehicles, clearing the air after rumours were doing the round that the move to push e-mobility will result in end of the road for traditional petrol and diesel vehicles.

(With inputs from PTI)