Thursday, October 5, 2000
fesub.gif (4328 bytes)
Full Story
fe.gif (834 bytes)
India's first e-business paper
flnews.gif (5153 bytes)
Search FE
-
Download
BSE Quotes
NSE Quotes
-
Think Tank
This week we focus on a complete analysis of the
financial institutions industry
-
 

Eight textile unions to strike over bonus 

Our Bureau  
Coimbatore, Oct 4: The Joint Action Council (JAC) of eight textile trade unions has issued notices to strike work if talks to reach a settlement for bonus payment are not held before October 19.

According to trade union sources, work at the textile mills in the Coimbatore and Erode region of Tamil Nadu will come to a standstill if talks are not initiated to settle the bonus issue before the deadline. The Southern India Mills Association (Sima), it may be noted, has decided to keep itself out of the discussion for an industry-level settlement. The move has left the JAC with no option but to hold talks with the individual mills.

Though the strike notice is considered ``not alarming at this stage'' as it is customary for both Sima and the JAC to take a tough stand initially, the ``warming up'' act would see the trade union leaders pressing for the Association's intervention to resolve the issue. Sima, it may be recalled, had failed to reach a settlement with the JAC last year. The textile mills resolved the issue at unit levels.

This time the trade unions have demanded a minimum bonus of 16 per cent and a maximum of 32.50 per cent to be paid before the Diwali festival.

``The mills have done better during 1999-2000 compared to the previous year. They should provide us with the balance sheets . We want Sima to come to the negotiating table,'' HMS leader and veteran trade union leader A Subramanian said..

Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.

- Lead Stories | Corporate | Infrastructure | Commodities | Economy/Finance | BSE Today | NSE/ Markets | Strategy | Convergence | After Hours top.gif (150 bytes)Top
flame.jpg (1068 bytes) © Copyright 1999: Indian Express Newspaper(Bombay) Ltd. All rights reserved throughout the world.
This entire edition is compiled in Mumbai by The Indian Express Online Media Limited, a division of
The Indian Express Group of Newspapers. Managed by The Indian Express Online Media Limited and hosted by CerfNet.