No downsizing plans, says Raymond CEO; company to create 10,000 jobs

No downsizing plans, says Raymond CEO; company to create 10,000 jobs

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Textiles maker and retailer Ltd has said that the company is planning to create above 10,000 jobs in its manufacturing centres, in keeping with Prime Minister Narendra Modi’s ‘Make in India’ vision.

Raymond's CEO denies rumours of job cuts says creating over 10,000 jobs
We are in the process of creating over 10,000 jobs through multiple investments under ‘Make in India’ initiatives: Sanjay Behl

A leading daily’s report had earlier today quoted Raymond CEO as saying: “Raymond is planning to cut about 10,000 jobs in its manufacturing centres in the next three years, replacing them with robots and technology”.

Read: Raymond Apparel to shift focus towards digital: President

Clarifying the leading daily’s statement, in response to an email sent by Indiaretailing Bureau’s, Sanjay Behl said, “As a routine practice and amongst many initiatives, we are in process of evaluating a few productivity linked initiatives using technology like Robotics. Robotics with advanced artificial intelligence is already a prevalent technology in large textile producing markets like China to optimise manpower. And at Raymond, there is no short-to-medium-term plan to downsize or replace any headcount.”

On the contrary, the company is in the process of creating jobs.

“We are in the process of creating over 10,000 jobs through multiple investments under ‘Make in India’ initiatives – foremost amongst those being Amravati textile park, which starts commercial production early next year.”

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The ET report quoted Behl speaking at an event at Great Lakes Institute of Management.

Raymond is one of India’s largest branded fabric and fashion retailers. It is one of the leading, integrated producers of suiting fabric in the world, with a capacity of producing 38 million meters of wool and wool-blended fabrics.

The Rs 5,000 crore company promoted by the Singhania family sells ready-to-wear clothes through its Park Avenue, Parx and ColorPlus brands that cater to the mid-market and premium segments.