BizSugar.com › News › VARINDIA Seeks Government Help to control the job loss

M&M said in a statement it was only able to maintain margins due to falling commodity prices and the government must reduce the goods and services tax (GST) rate to spur demand. As per Reuters, that initial estimates suggest automakers, parts manufacturers and dealers have laid off about 350,000 workers since April. M&M shares were 4.9% down in afternoon trading.