MORE THAN 10,000 PEOPLE TO LOSE JOB AFTER COUNTRY'S FAMOUS BISCUIT MAKER FACES LOSS

India's best-selling biscuit brand, Parle-G, has a sad and shocking news for all its customers as the company might lay off up to 10,000 workers. This step was taken after the company faced a slow economic growth and fall in demand.

At a recent telephonic interview, category head at Parle, Mayank Shah said that a sharp drop in Parle's biscuit sales means the company may have to slash production, which may result in layoffs of 8,000-10,000 people. "The situation is so bad, that if the government doesn't intervene immediately... we may be forced to eliminate these positions," he said.

Further highlighting over the issue, Shah stated that the demand for popular Parle biscuit brands such as Parle-G worsened after the government rolled out a nationwide goods and services tax (GST) in 2017. Due to that it imposed a higher levy on biscuits costing as low as Rs. 5 per pack.

"Consumers here are extremely price-sensitive. They are extremely conscious of how many biscuits they are getting for a particular price," Shah further said in the interview.

Parle was founded in 1929 that employs about 1,00,000 people, including direct and contract workers across 10 company-owned facilities and 125 contract manufacturing plants.

Before Parle-G could become a household name, it was known as Parle Gluco. As per research, in 2003, Parle-G was considered the world's largest selling biscuit brand.