The restructuring of voltas limited
Abstract
When Mr. N.D. Khurody took over as the
Managing Director ofVoltas Limited in April
1997, it had just stunned its stakeholders by
declaring a loss-Rs. 167.9 million on a turnover ofRs.
14,462.0 million-for the first time in its 43-year history.
Brought in from Tata Administrative Services, his
express mandate was to turn Voltas around. As a result
ofthe restructuring and rightsizing he initiated with the
support of the Board and senior management, the
employee strength (10,700 in 1997) was almost halved
by October 2001, when Mr. Ashok Soni, Head of
Finance, took over
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