Sterlite Technologies Lays Off Nearly 100 Employees Amid Business Pressures: Report outlookindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from outlookindia.com Daily Mail and Mail on Sunday newspapers.
Pune-based Sterlite Technologies (STL) has laid off approximately 100 employees, including senior executives, as part of a restructuring plan. The move is aimed at cutting operational costs, with non-core functions being affected the most. The company s decision comes amidst increasing business pressure and competition from multinationals in the optical networking sector. STL recently sold off its telecom and software units to a US-based firm. The company s order book for the current year stands at around ₹10,500 crore, with the optical networking business contributing nearly 80% of its overall revenue.