LG Balakrishanan stops production, lays off employees

[Kalyan]

LG Balakrishanan stops production, lays off employees

Auto parts maker LG Balakrishnan & Bros Ltd said on Monday it has stopped production at its Bangalore manufacturing unit and is laying off employees there due to poor market conditions.

"We are laying off employees. When you lay-off, there's no production. But we are not shutting it (the plant) down as such," Managing Director B Vijaykumar said but did not give any other details.