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Coronavirus impact: Tata Sons revisits strategy as COVID-19 wrecks overseas markets

The heads of these Tata Group companies have also been asked to create support groups within their respective companies to help deal with the coronavirus crisis across the world

twitter-logoBusinessToday.In | March 17, 2020 | Updated 16:53 IST
Coronavirus impact: Tata Sons revisits strategy as COVID-19 wrecks overseas markets
The key priority areas for the (Tata) group companies are employee welfare and mitigating business risks

Tata Sons Chairman N Chandrasekaran recently outlined plans to deal with the novel coronavirus crisis with Tata Group CEOs. Chandrasekaran held the conference call with the heads of Tata Consultancy Services (TCS), Tata Motors, Tata Steel, Tata Power, Tata Global Beverages Ltd (TGBL), Tata Chemicals, Jaguar Land Rover (JLR) among others.

The CEOs assessed the business strategies of 2021 vis-a-vis the fast-spreading COVID-19 pandemic across the world which has significantly impacted Tata Group's key markets in Europe, the US, UK, Singapore, China, and United Arab Emirates, sources told the Economic Times.

Also Read: Coronavirus in India Live updates: Central Railway cancels 22 trains, hikes platform ticket fare

The heads of these Tata Group companies have also been asked to create support groups within their respective companies to help deal with the challenge. The key priority areas for the (Tata) group companies are employee welfare and mitigating business risks.

Meanwhile, some employees of JLR and Tata Steel are reportedly quarantined. The CEOs have been given free hand to take independent financial decisions to ensure employee safety, the report said. Tata International, Tata Steel, TGBL, TCS, and JLR have employees in Europe, the US, UK, and China, among other geographies which are hit hardest by the coronavirus outbreak.

Also Read: Coronavirus: Third death reported in India, 64-year-old man dies in Mumbai

While Tata Communication, Tata Realty, Tata Motors and India Hotels Co. Ltd (IHCL) have allowed employees to work-from-home, other group companies are also likely to follow the lead as the situation develops further, the daily reported.

The report also quotes Chandrasekaran as saying the employees need to reduce their business travel, avoid in-person meetings for some time. He also asked the CEOs to make sure that the employees maintain a social distance from each other for some time and that all of them should be given the same level of care, irrespective of their designation.

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