NEW DELHI: Homegrown auto major Mahindra & Mahindra is restructuring its two-wheeler business after the division failed to meet its expectations and has given voluntary retirement scheme to 250 workers as part of the process.
“It is one vertical which has not met expectations last year. We are currently in the process of deciding the way forward for our two-wheeler business,” Mahindra & Mahindra Executive Director Pawan Goenka told reporters here.
While he did not share details, Goenka further said: “A formal announcement will be made in the next couple of months.”
Explaining the rationale behind taking such a step, he said: “Volumes were not as we planned.”
On the implications of the restructuring, Goenka said: “We have rig…
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