With its French parent company Alstom announcing 1,300 job cuts globally early this month to bring down costs, Alstom India — despite a slump in the capital goods sector — has said that it will not layoff any of its 8,000-plus employees and would instead increase its headcount by 14-15% per annum for the next three years.
After investing close to 100 billion euros (or Rs. 8,500 crore) in the past five years in building factories and new units in India, the company would “further increase” its workforce, Alstom India chief Sunand Sharma told HT.
“There is no need for a cut down as I see the current slowdown as a short lull,” Sharma said, adding that Alstom’s investments in India have been at an all-time high in the past five years.
Investments have gone towards building of new factories like SriCity, the new Bharat Forge joint venture, expansion of Shahbad unit and acquisition of Areva T&D.
Sharma said a further increase in workforce will happen as a result of “natural progression”. “As our new units and factories under construction grow such as the Anand factory in Gujarat or our SriCity factory, we will employ around 14-15% more (employees).”
Alstom employs around 93,000 people in around 100 countries.
Other multinational companies such as Germany’s Siemens had earlier this year reportedly laid off close to 200 people across India due to uncertain business environment and a sharp drop in profit. Siemens employees around 12,000 people in India.
In India, Alstom offers a wide range of solutions for every sector — power, transport and grid. The company has power equipment manufacturing units and a metro and railway software centre in Bangalore.