Arvind Mills to Restructure. Job Cuts Planned
Friday, August 31, 2007
Arvind Mills will undertake a major restructuring exercise. The group will merge its strategic business units (SBUs) into two main divisions: apparels and textiles. The move entails job cuts and cost cutting of up to 30%, an initiative to address the rupee crisis.Reportedly, the strategic business units in the fabrics division, including denims, shirting, khakis, knitwear and voiles, will now be merged and controlled by one business head. Similarly, the businesses in the apparel division, including brands and retail, will be merged as well. This will lead to proper integration among different businesses, focused and joint initiatives and streamlined operations.
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