LT CEO SN Subrahmanyan loses Rs 70000 crore: L&T CEO SN Subrahmanyan, who supported a 90-hour workweek, has bad news: the firm loses Rs 70000 crore because of hate speech of L&T CEO
LT CEO SN Subrahmanyan loses Rs 70000 crore
SN Subrahmanyan, the CEO and MD of Larsen and Toubro, has stirred up controversy with his comments regarding the work-life balance topic by stating that employees must put in 90 hours a week, including on Sundays.
LT CEO SN Subrahmanyan loses Rs 70000 crore: The Defence Ministry has declared Larsen and Toubro’s (L&T) bid in the Rs 70,000 crore procurement to purchase six submarines non-compliant, dealing a severe blow to the industrial behemoth. The CEO and Managing Director (MD), SN Subrahmanyan, of L&T, the biggest engineering firm in India and the 12th most valuable corporation, recently made headlines when he said that he “regrets” not being able to provide his employees with 90 hours per week, including on Sundays.
L&T Rs 70,000 crore proposal rejected
LT CEO SN Subrahmanyan loses Rs 70000 crore: According to ANI, which cited defense sources, L&T had submitted a proposal under Project 75 India to supply the Indian Navy with six cutting-edge submarines that could remain underwater for three weeks in collaboration with Spanish Navantia. According to the report, the Defense Ministry, however, rejected the firm’s proposal because it did not meet Indian Navy criteria.
According to the report, L&T and its partner demonstrated to the Indian Navy team on shore how their vital Air Independent Propulsion system operated in Spain; however, the Indian Navy’s specifications in the tender document called for a system that had been proven at sea.
Mazagaon Dockyards only vendor in race
LT CEO SN Subrahmanyan loses Rs 70000 crore: The state-owned Mazagaon Dockyards Limited and its partner ThyssenKrupp Marine Systems of Germany would be the only vendors remaining in the competition to build the six submarines as a result of L&T’s tender being rejected.
LT CEO SN Subrahmanyan loses Rs 70000 crore: The last of the six Project 75 Scorpene class submarines, the INS Vagsheer, was recently delivered to the Indian Navy by Mazagaon Dockyards. However, the company is set to get orders for three more submarines under Project 75 (Additional Submarine), which will be constructed with assistance from the French Naval Group.
LT CEO SN Subrahmanyan loses Rs 70000 crore: Program vendors have been presenting their case to the government, and the Defense Ministry has been proceeding in accordance with project protocols and has reviewed the entire process. Additionally, recommendations have been made to the relevant authority to split the project equally among the shipyards.
The Central government has recently approved a number of submarine projects, both nuclear and conventional, in an effort to keep up with China and Pakistan, New Delhi’s competitors, who are modernizing their fleets at a quick pace.
90-hour workweek
LT CEO SN Subrahmanyan loses Rs 70000 crore: With facilities on both coasts that primarily support defense forces initiatives, Larsen and Toubro have been heavily involved in the Indian Navy’s strategic submarine projects.
LT CEO SN Subrahmanyan loses Rs 70000 crore: With his comments on the work-life balance topic, the company’s CEO and MD, SN Subrahmanyan, recently stirred up controversy by claiming that in order for employees to compete with those in other countries, they must work 90 hours a week, even on Sundays. Since he works on Sundays himself, Subrahmanyan expressed sadness that he was unable to force L&T staff to work on Sundays.
LT CEO SN Subrahmanyan loses Rs 70000 crore: He inquired what employees do at home on their days off and how long spouses and wives can “stare” at each other. He said, “If I can make you work on Sundays, I will be happier, because I work on Sundays too.” “What do you do when you’re at home?” How much time can you spend staring at your wife? How much time are the wives allowed to gaze at their husbands? Arrive at the office and get to work.
LT CEO SN Subrahmanyan loses Rs 70000 crore: His remarks coincided with a heated discussion on work-life balance that was sparked by Infosys founder Narayana Murthy’s contention last year that workers ought to put in at least 70 hours per week.
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