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By Staff Reporter in Calcutta
  • Published 10.08.00
Calcutta, Aug 10 :     Gramophone Company of India Limited (GCIL) has been renamed as Saregama India Limited (SIL) to impart the company a 'more robust and vibrant' image, company vice-chairman Sanjiv Goenka said here today. The company has decided to cut its 800-strong workforce by 25 per cent to turn itself into a lean and productive organisation. "We will reduce the staff-strength in the current financial year. Anderson Consulting has suggested that we reduce the cost of operations and we are doing everything possible to address the issue. We have already taken steps to revamp our supply-chain management," Goenka said. At the same time, the capacity of the company's factory at Dum Dum will also be increased from 1.5 lakh cassettes per day to 2 lakh. Saregama India will launch its new brand Saregama. Its logo has already been drawn up by an agency called Rubicon. The brand, which will market Indian music, is expected to be launched next month, and will be marketed internationally through Saregama plc and RPG Music International. "We have plans to list our company either at Nasdaq or on the New York Stock Exchange. The board will take a final decision in December. We have not yet decided the size of the issue. It all depends how the market behaves in the coming months," an upbeat Goenka said. In the past year, the company has been looking for a new name, which will reflect the changes that have taken place in the technology of music production since the invention of gramophone in the 19th century. "Sa re ga ma are the notes that every India identifies with. Moreover, the company's current need is to reflect dynamism and a contemporary mindset. We have to reposition the company as an organisation of tomorrow.," Goenka said. The new name Saregama was selected after extensive research and brainstorming. However, the famous logo of HMV - a dog sitting in front of a gramophone - will be continued in all HMV cassettes.