On world bicycle day, Atlas Cycles shuts Sahibabad plant, announces temporary lay off of 1000 employees
Atlas Cycles shut down its manufacturing unit at Ghaziabad's Sahibabad on Wednesday and announced temporary layoff of about 1000 employees. Ironically, the decision came on World Cycle Day.
The company in a public announcement said that it is under heavy 'economic crisis' due to which it is not able to buy raw materials for the production of bicycles. Source - Atlas Cycle website.