The engineering firm was forced into this action particularly due to the gas and oil business slump in the West.
The company is planning to hire above 2,000 employees during the fiscal in Asian countries including India, Singapore and Abu Dhabi. The company plans this move based on the recent infrastructure developments in Asia.
“Besides fresh recruitment, we are also rationalising our employee base at our UK-based subsidiary Simon Carves to other centres, particularly to Delhi and Hyderabad because of slowing down of gas and oil business in the West," Punj Lloyd Group Chairman Atul Punj said.
Simon Carves deal with design and construction of turnkey projects in the oil and gas, chemicals, refineries, nuclear and biofuels sectors.