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SKS Microfinance Limited Form

SKS Microfinance Limited Form

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SKS micro Finance the only listed micro Finance Company in India has cut um 1,200 Jobs and is also going to shut about 78 branches in Andhra Pradesh and we are joined by the management Mr Emma ra who's the MD and CEO of SKS micr Finance he joins us on the phone line from Hyderabad thanks so much for joining in Mr ra first of all you have decided to cut about 12200 jobs in Andra prades this is almost a third of your Workforce what forced you to take this drastic step Mr yeah as you're all aware there's been virtually no operations in AP post the AP mfi act while we have been retaining the uh staff in AP for the last 18 months post our uh results annual result where we booked 1300 crores plus loss we decided to cut down the workforce by closing branches where there is virtually no collection or marginal collection so we identified the 78 branches and this 1200 staff that we plan to uh exit are from these 78 branches right but uh how will this downsizing really imp

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