Seems like the workers strike over wage settlement issues have become a trend in the industry and during the appraisal cycle, you could expect one or the other company's workers to have a tool down strike.
The facility, which manufactures models like Bolero, Scorpio, Xylo, Quanto and Verito, suffered a production loss of 500 units because of the tool down. On Tuesday, M&M lost 90 units of production. A statement issued by M&M said the company will not have an immediate impact on the sales as it has three-weeks' stock in the pipeline.
An auto industry analyst requesting anonymity said, "Steep wage hikes at MarutiBSE -0.06 % and Hyundai have set a benchmark for others. But then, Maruti and Hyundai could afford such hikes based on the volumes they produce out of one plant. For M&M to replicate that will be very tough." M&M confirmed receiving a notice from the employees' union at the facility on Tuesday. The workers at the Nashik plant have been reportedly protesting for higher wages after the three-year wage pact lapsed earlier in February this year.
0 comments:
Post a Comment