LIC's Mega IPO Could Cause Job Loss, Union Warns

India's largest trade union warned that the mega initial pubic offering of LIC will cause job losses and impact the company's social infrastructure spending plans. General secretary of All India LIC Employees' federation said the company will more focus on ''profit-maximizing investments'' after the IPO instead of focusing on development projects such as roads, railways, and power.  Reportedly, the union isn't happy with the sale of LIC's 10% shares.