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Sterlite Technologies Lays Off Nearly 100 Employees Amid Business Pressures: Report

Sterlite Technologies Lays Off Nearly 100 Employees Amid Business Pressures: Report
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Pankaj aggarwallManish sinhaManuj desaiJitendra balakrishnanSterlite academyBombay stock exchangeTexas headquartered skyvera

Sterlite Technologies: Sterlite lays off nearly 100 staff in move to pare operational costs

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.

New delhiPankaj aggarwallJitendra balakrishnanManish sinhaManuj desaiSterlite academyVedanta groupBombay stock exchangePune based sterlite technologiesTexas headquartered skyveraSterlite technologiesOperational costsTelecom unitsPune based sterliteVedanta limited