Reed Exhibitions India, part of media conglomerate Reed Elsevier (NYSE: RUK) India Pvt. Ltd, has undertaken a significant restructuring three years after it set up shop in India. The company is closing its New Delhi office and moving all operations to Mumbai, and in the process, has laid off 24 people from its 40-member staff.

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“We are scaling back the operation now to take advantage of the opportunity to rebuild it,” CEO Mike Alsopp told contentSutra. He company is looking to achieve greater synergies in operations with group companies overseas.  “The brand owners will support its operations here and vice versa,” he added.

In three years, the company had launched events in jewellery, pharmaceutical machinery, electronics, cosmetic ingredients, aluminium, energy and information security.
Alsopp said the slowdown in the economy and specifically sectoral slowdowns were affecting the company’s events.

Information services provider Lexis Nexis and academic publisher Elsevier Science are the other divisions of Reed Elsevier India.

We recently reported that Reed was pulling out of a JV with Infomedia18.