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Mumbai:

A senior official of Parle Products Private Limited, known for their Biscuits on Friday said that the problem about job losses in the company that he had spoken about in the previous week was “blown out of proportion.” He also called it inappropriate.

Mayank Shah, the official had on Tuesday said that if the demand slowdown continues almost 10,000 employees might lose their job. Shah made the statement in an interview with BTVI.

He said that the consumption of biscuits priced at Rs 5 had been impacted due to high Goods and Services Tax due to which the “overall run” had taken a hit. Shah said that job losses would be an “eventuality over a period of time” if immediate action was not taken.

Parle’s concerns followed a week after food-products company Britannia’s Managing Director Varun Berry said the demand for Rs 5 biscuit packets had fallen.

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