L&T hit by ‘severe’ skilled manpower shortage: 45,000 engineers & techies needed

Larsen & Toubro (L&T) is facing a significant skilled labor shortage across its various divisions, according to its Chairman and MD, S N Subrahmanyan. The engineering and construction segment is short of 25,000 laborers, while the IT and IT-enabled services unit is struggling with a deficit of 20,000 engineers, TOI report said.

This shortage is severely impacting L&T’s ability to execute its projects. The company attributes the shortfall to a combination of factors: extreme weather conditions, disruptions from recent elections, and an increasing trend of workers moving abroad for higher wages, particularly to destinations like Russia and Israel. Additionally, there is a high demand for specific skill sets that are currently hard to find. Subrahmanyan, commonly known as SNS, also pointed to an attrition rate of 10-12% within the company as a contributing factor.