The Hindu Business Line : Bajaj Auto forks out Rs 500 cr to settle Akurdi workers’ dues

Pune, Aug. 1 Two-wheeler major Bajaj Auto Ltd paid out around Rs 500 crore to settle the dues of workers who opted for the voluntary retirement scheme at its Akurdi factory.

In addition to the lump-sum which was part of the separation package offered, the cheques handed out to each worker included dues such as gratuity, provident fund, leave settlement and arrears of the newly inked wage hike effective with retrospective effect from March 1, 2007.

At the end of the day, the workers walked away with cheques ranging from Rs 20-28 lakh, a member of the Vishwakalyan Sangathana, the workers’ Union, said. In addition, the workers are to get a monthly wage till their individual dates of retirement.

Mr C.P. Tripathi, Vice-President, Corporate, BAL, declined to put a figure on the amount dispensed. “I do not know how much money we gave out yesterday,” he said, disclosing that the dues of 2,250 workers of 2,340 whose applications had been processed were cleared by late Thursday evening. “Around 90 workers’ payments are pending as they were absent. There are a few cases on which we are still in discussions.”

The settlement brings the curtain down on a worker-management row that lasted 11 months, beginning last September with the company shutting down production of two-wheelers at Akurdi stating that manufacture at Pune was no longer viable.

Though the company had maintained that the workers were not responsible for the decision, the move had left nearly 1,700 of them without any daily work, leading to face-off.

Related Stories:
2,340 workers opt for VRS at Bajaj Auto Akrudi unit
Bajaj Auto VRS plan hits roadblock

More Stories on : Trade & Labour Unions | Two/Three Wheelers | Bajaj Auto Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Adani in power purchase deal with Maharashtra State Electricity Co

Kesoram opts for ECB of Rs 460 cr

Strides Arcolab completes 50.1% acquisition of Genepharm

Goa Carbon lines up Rs 700-cr investment

Electromech to set up facility at Sriperumbudur

Tata Steel sets up holding co for overseas assets

WHO approves Ranbaxy’s AIDS drug

Bajaj Auto forks out Rs 500 cr to settle Akurdi workers’ dues

GM puts off Hummer, Cadillac launch plans

Texmaco joins Japanese consortium to bid for Madhepura project

Toyota’s small car may be high speed, not low cost