Lanco gradually sacking 4,000 staff

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 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.