Metals and mining conglomerate Vedanta Resources, which has a sizable presence in India in oil and gas, aluminium, iron ore and zinc sectors, has announced slashing nearly 4,000 jobs -- both direct and indirect -- in the country since January this year.
The job cuts are taking place at the mining giant's Indian arms Vedanta Aluminium, Balco, Cairn India and Sesa Goa -- the iron ore business in Goa.
Of the around 4,000 job losses, about 2,700 are direct and the rest are indirect.
Balco accounts for 1,000 job cuts and Vedanta Aluminium for around 2,000. Sesa Goa as well as Cairn India have already slashed up to 450 jobs each, so far.
While Vedanta Aluminium, Balco and Sesa Goa confirmed job cuts, sources said Cairn India too had slashed jobs.
On the retrenchment, a Vedanta spokesperson said: "Global cost curve has to be kept in mind as we work in unified competitive environment and hence, cost reduction has become need of the hour.”