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JK Corp cut 600 jobs in two years

As part of its cost-cutting exercises, JK Corp Limited has trimmed 600 people over the last two years.

The company, in a statement today said, it has reduced manpower by more than 13 per cent through various measures including rationalisation, voluntary retirement schemes and natural retirement and separations.

''JK Corp has been continuing with its cost-cutting exercise and besides improving efficiencies and bringing down consumption, it has been able to reduce its manpower significantly over the last two years,'' the statement said.

Meanwhile, JK Corp Limited has recorded a 23 per cent growth in production and 43 per cent surge in sales at its paper division during the first quarter of the current fiscal.

Production from the division was 23,946 tonnes during the period while sales were at 20,242 tonnes.

At its cement division, Lakshmi Cements, production of cement and clinker was respectively 468,000 tonnes, up 18 per cent over the previous year, and 480,000 tonnes, up 22 per cent on year. Sales for the whole division stood at 481,000 tonnes, up 22 per cent on year.

''Amid renewed optimism for its core businesses of paper and cement, the company expects to benefit further from an upturn in the prices of these commodities and from a revival of the domestic economy," the statement said.

The company had installed a pulp mill last year resulting in reduction in cost of production of pulp.

UNI

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