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Articles in June 7, 1999 issue of Discount Store News

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"Do not rely on a single economy" ; Larsen and Toubro (L and T) was affected due to the slowdown particularly the products businesses, which include switchgears, construction equipment and industrial bars.
"The first deliberate call we took was not to lay off anybody" ; The diversified group decided to reskill all surplus workers.
"Government had to step up its demand" ; The downturn affected the government as much as India Inc. The outgoing advisor to the Government of India details its impact and its lessons.
"Help your customers even in difficult times" ; Oil was at an all-time high at over $135 per barrel just before the financial meltdown. Then oil crashed to a low of $35 per barrel in January this year, bringing down any fresh demand for pipes fr
"You have to be visible as a leader" ; Transparency is a standard operating procedure for communications during a downturn.

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