Business Daily from THE HINDU group of publications Thursday, Mar 22, 2007 ePaper |
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Corporate
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Mergers & Acquisitions
Virendra Pandit
Ahmedabad March 21 The 24-hour relay hunger strike of the Vadodara-based Indian Petrochemicals Corporation Ltd (IPCL) employees entered the second day on Wednesday even as about 2,200 employees, out of 5,500, are speculated to have opted for the "Voluntary Separation Scheme" (VSS) offered by the company till Tuesday, the last date. A group of employees, representing the company's three trade unions, affiliated to BMS, AITUC and INTUC, sat on a relay hunger strike at the IPCL gate on Wednesday. The protest started on Tuesday against the RIL-run management's alleged mass transfer orders from Vadodara to the proposed SEZ in Jamnagar. It will continue till April 3 when the employees would launch a fast-unto-death. Meanwhile, according to a company spokesman, no transfer orders have been issued and the unions have "no locus standi" in going on strike. He charged the unions with spreading rumours about the alleged transfers but said some employees may have been relocated on a rotational basis to Jamnagar. Till Tuesday, some 1,800 employees had applied for VSS envisaging a golden handshake between Rs 10.5 lakh and Rs 15 lakh. Another 400 employees had submitted their applications till late Tuesday night, he added.
Related Stories: More Stories on : Mergers & Acquisitions | Reliance Industries Ltd | Indian Petrochemicals Corporation Ltd | Trade & Labour Unions | Petrochemicals
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