Financial Daily from THE HINDU group of publications
Tuesday, Sep 09, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 09, 2003 |
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Corporate
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Trade & Labour Unions Bajaj Auto signs new wage pact Our Bureau
Mumbai , Sept. 8 BAJAJ Auto Ltd (BAL) today said its management has signed a new wage settlement covering permanent daily workers at its Akurdi plant with Bharatiya Kamgar Sena on Friday. The outgo on account of this settlement will be Rs 18 crore towards adhoc payment and Rs 10 crore every year in rise in wages. The previous settlement signed in 1998 expired on November 30, 2001. Under the new settlement, the workers are expected to work for 470 minutes per shift in first, second and general shifts and increase manual working speed from 120 to 125 per cent in assembly lines and to 130 per cent in other shops. "The union has also agreed to follow a set of new work practices aimed at enhancing the levels of productivity, quality and cost reduction," BAL said in a news release. The management has agreed to give a wage rise of Rs 2,450 per worker per month and an adhoc amount of Rs 42,000 per worker in consideration of the time lapse of about 21 months between the expiry of last settlement and signing of the new settlement. In addition, the management will also extend other financial benefits to the workers to provide assistance for certain personal purposes. This settlement will be valid until February 28, 2007.
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