Bajaj Auto says no to workers equity shares demand

July 18, 2013 02:42 PM by Pratheek Kunder
Bajaj Auto says no to workers equity shares demand

Bajaj Auto has rejected its workers unions’ demand of allocating 500 shares through employee stock options to each worker at a price of Rs 1 per share. The company is however ready to discuss other issues that the union has raised including reinstatement of suspended workers.

The strike has now been on for 23 days and it is believed that the company has lost around 30,000 units of production and these figures might increase if the strike continues for few more days. Reports suggest that Bajaj has already approached an industrial court to declare the protest an illegal strike.

"The company will not agree to demand to allot shares to the employees even if stoppage of work goes on for 500 days, as even the top management has not been allotted shares," said Rajiv Bajaj, managing director, Bajaj Auto.

"It is not true that we don't have a problem. I am very worried if the strike prolongs. We are concerned about the production loss and also about the work culture at the plant. Our expectations from Chakan are not quantitative but qualitative," added Rajiv Bajaj.

Source: Economictimes


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