Gensol EV lays off 50 employees

GENSOL EV, A subsidiary of the listed entity Gensol Engineering, has laid off around 50 employees of its total staff strength of 170, industry sources said.

- ANEES HUSSAIN

The terminated employees are yet to get their full and final settlement. Sources said that a section of the employees have also not received their salaries since February.

When contacted, a company spokesperson said, "Given the challenging circumstances we are navigating as a group, we have to undertake certain restructuring measures to ensure the long-term sustainability of our businesses. We have had to make the difficult decision to let go of 35-40% of our employee base at Gensol EV."