Emcure Pharma shuts gastro division, terminates 80 employees
The company says it was a loss-making division since its inception
Pune-based Emcure Pharmaceuticals has shut down its gastroenterology division called ‘Gemcure’ and terminated 80 field force from across the country.
A senior official from the company informed, “Nearly three years back the company started its ‘Gemcure’, a gastro division. However, since the inception of this division, it was a loss-making venture. This division could not add any profitability to the company’s balance sheet and therefore it wasn’t a part of the company’s business strategies programme.”
The company’s signatory authority of human resources has issued a letter informing each of the terminated employees about the company’s decision. The letter states, “The Company regrets to inform that we are no longer in need of your services and accordingly, your services are terminated with immediate effect from May 20, 2020, and as per Clause 22 mentioned in the appointment letter.
The letter also informed that the terminated employees are required to furnish a ‘No dues’ certificate from stockists/distributors of the company. The employees also need to submit/return all documents and belongings of the company, to complete the formalities for full and final settlement of their dues.
Along with the termination letter, the company has also issued the provident fund withdrawal form, which needs to be filled, signed and returned to the HR department of the company.