West Bengal to restructure state-owned enterprises
- Sonia Gandhi retiring as Congress president, not from politics
- Aircel-Maxis case: Supreme Court seeks status reports on probe
- Carlyle Group completes GE Capital stake buy in SBI Card
- Gujarat elections: Voter turnout dips by 3% to 68.41%
- Ahead of merger, Vodafone appoints first Indian CFO in Manish Dawar
Kolkata: The West Bengal government on Wednesday announced a large scale restructuring of enterprises owned by it to rationalise operating costs.
The government said at least 16 companies are to be merged and five subsidiaries of West Bengal Electronics Industry Development Corp. Ltd, or Webel, to be wound up. The state would, after the restructuring, continue to run 44 focused enterprises, most of which, though, are loss-making.
Chief minister Mamata Banerjee reiterated that this restructuring will not lead to job cuts.