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DLF could trim staff in future: K P Singh

Source: PTI
November 20, 2008 17:39 IST
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Real estate giant DLF Ltd on Thursday said trimming of staff could happen in the future, although it has not laid off any employee so far.

"We have not laid off anything. The lay-off could happen in future in case the demand further goes down," DLF chairman K P Singh said at an Assocham event in New Delhi.

He clarified that as of 'today' DLF has not laid off anybody.

Earlier this week, during India Economic Summit, Singh had said DLF fired 'some' employees.

"We must have laid off some employees somewhere," Singh had said.

He also said the company had deferred some of its projects due to poor demand.

"In hotels, residential and commercial everywhere. . .deferred because of lower demand and liquidity crisis," he had said.

Singh said on Thursday high interest rates have taken a toll on demand.

"The interest rates should be around seven per cent," Singh said.

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