PM asks industry to refrain from job cuts

Calling the current global financial crisis "abnormal", and admitting that it had impacted the Indian economy, Prime Minister Manmohan Singh Monday asked India companies to refrain from "knee-jerk" reactions like lay-offs.

"The financial crisis has exacerbated a global downturn that was expected earlier but is now likely to be more severe and prolonged," the prime minister said during a meeting with leading industrialists at his South Block office here………….



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