Click to play videoNew Delhi: Tata group Chairman Ratan Tata has asked his employees to brace themselves for hard decisions.
The managements of the group's 96 companies has described the current crisis as the worst one.
A message has been sent by the Chairman to the 3.5 lakh strong work force to sustain meaningful level of operation in the next 12 months. Drop in the demand and non-availability of credit at reasonable rates has impacted most of the Tata companies.
Ratan Tata in the letter dated December 31 wrote: "This economic crisis may well be the worst we have ever faced in our living history."
It will call for hard decisions and call for deferment of all avoidable expenditure and growth plans," Tata added.
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