Bajaj Auto Chakan factory workers demand 500 equity shares at Rs 1; production hit

June 27, 2013 02:06 PM Pratheek Kunder
Bajaj Auto Chakan factory workers demand 500 equity shares at Rs 1; production hit

 

Bajaj Auto’s Chakan factory workers have been demanding revision in their wage since Tuesday that has impacted the production. Over 1500 workers from the plant have been a part of this agitation demanding the company to allot 500 equity shares to each worker at a price of Rs 1 per share.

At the current price of Rs 1,788 per share, the total worth of the stocks will come to Rs 83 crore. The other demands include 25 per cent wage hike, contract workers to be made permanent, reinstatement of few suspended workers and bring back some workers who were transferred from Chakan plant.

This agitation is led by union leader Dilip Pawar who is also a part of Vishwa Kalyan Kamgar Sanghatna. Pawar has a long history of confrontations with Bajaj in its Akurdi, Pantnagar and Aurangabad plants. Bajaj is expecting to manufacture 50,000 motorcycles in June and July each at its Chakan plant compared with its usual 75,000 a month.

"It's an absurd demand made by one person. Pawar is a leader without a follower," said Rajiv Bajaj, managing director, Bajaj Auto.

Source: Economictimes

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