Following the development, around 50 workmen in its facility have left with no option but to opt for other jobs in other watch manufacturing companies. Westar International is reluctant announce any voluntary retirement scheme (VRS) in order to meet the prevailing situation.

The decision to shut down the manufacturing unit comes in the wake of the Dubai group's plans to sell off a majority stake in the venture. ``The high-end wrist watch manufacturing foray was not fit for the Al Futtaim group, basically a trading company having operations worldwide,'' industry analysts said.

A company spokesman categorically said: ``The shut down is due to the fact that Westar has enough stocks to cater to the domestic market. As soon as we sell the existing stock of wrist watches, we would resume manufacturing operations.'' The companyhas also a buy-back arrangement with the parent company for its lower-end watches. Westar is yet to take a final decision on redeploying its excess staff. The company has about 100 employees in Bangalore. The dismal market conditions have forced many employees in the marketing department of Westar to look for other greener pastures. ``The closure of the factory has not affected the operations of the corporate office where it has about 40 employees,'' he added.