Current Affairs

Salgaocar gives 200 employees the pink slip

The mining crisis in Goa has got its first victim, prominent mining baron Anil Salgaocar has shutdown three mines and has offered the pink slips to over 200 employees late last week and another 200 more expected to handed out to this week.

Sources close to the mining baron and in know of the current strategy being adopted by the Salgaocar, stated, that it appears that the mining crisis in Goa coupled with some concerns over mining in Karnataka as well has led to this unfortunate decision on part of the organisation.

While the exact number of employees who will be retrenched is not known, the news doing around the mining circles is that this step initiated by the Salgaocar is something that should be expected by other mining companies as well; since many are not seeing a solution to the current mining imbroglio and therefore the prudent business decision would be to shut shop and restart at a more opportune time.

Supreme Court has suspended the mining operations in Goa following the Shah Commission report wherein the panel estimated a mining scam of Rs 34,935 crore. Many mining companies and mining-affiliated businesses have found themselves thrown into the deep-end of the sea with no swimming gear in tow.

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