Kirloskar Electric temporarily lays off 53 people

NEW DELHI: Kirloskar Electric Company has laid off 53 people for one month at its Mysore factory, as part of the entity's efforts to improve operational efficiency.

A leading electrical engineering firm, Kirloskar Electric caters to diverse sectors including power generation, renewable energy and transportation.

The company has "announced lay-off for 53 workmen at electronic unit at company's factory situated in Mysore w.e.f. November 25, 2013 till December 24, 2013," it said in a regulatory filing today.

The move is part of continued efforts to improve the operating efficiency and to optimise the productivity of the resources, it added.

"Turnover of the above unit in the total turnover of the company is less than 1.5 per cent," the filing noted.

The firm's electrical and electronic equipment offerings include AC Induction Motors, AC Generators, DG Sets, transformers and switchgears.

Shares of the company climbed nearly three per cent to close at Rs 21.30.