After a struggling week for the Crest Employees, this is what the management justifies themselves by giving irrational numbers to the Mumbai Stock Exchange. Looks like they have come up with a new way for fooling the world : "As a corporate responsible to its shareholders and respected institutions like stock exchanges, Crest Animation Studios Limited would like to set the record straight. Stories have been doing the rounds that we are downsizing. These are true but must be read in the particular context described below. Out of a total workforce of 280 artists, Crest has temporarily laid off 150 artists. We intend to re-employ productive artists from those laid off when the market situation improves. Crest is identifying personnel for domestic and international marketing which will demonstrate our serious intention to continue as a corporate in the CGl space. Crest has fallen back on its payment of salaries due to the stress it is going through, and all efforts are being made to get it regularized as soon as possible. Our people have been our most valuable asset and would continue to remain so, as an organization which takes pride in its culture and the well being of its people we acknowledge their grievances in its right perspective. The volatile global economic scenario has impacted almost every industry and organization in the Computer Generated lmagery (CGI) space, Crest too had to bear the brunt of it over the last couple of years. We have taken a conscious choice to pause all production activities temporarily as we are in the process of restructuring our business model and processes. We would be back on to full scale production in 2-3 months time frame". This came in bseindia
Posted on: Wed, 31 Jul 2013 17:25:27 +0000
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