Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Hero wage dispute referred to deputy labour commissioner

Jan 22 2013, 01:38 IST
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SummaryThe initial wage negotiations between workers and management of two-wheeler major Hero MotoCorp’s Gurgaon plant remained inconclusive

The initial wage negotiations between workers and management of two-wheeler major Hero MotoCorp’s Gurgaon plant remained inconclusive today and the matter has now been referred to Haryana Deputy Labour Commissioner for further deliberations.

The negotiations have been going on since August 2012. Workers, who are demanding a monthly wage hike of up to Rs 18,000 over a three-year period, have decided to wait for the outcome of the discussions under the state deputy labour commissioner (DLC) and will decide on its future course of action after one week.

“The initial discussions under the presence of a junior level state labour official have failed today. Now the matter has been forwarded to higher authorities under the state DLC,” Hero MotoCorp Workers Union president Kawalpreet Singh said.

When contacted, a company spokesperson said: “We will continue to engage with the workers towards achieving this objective of reaching at an amicable solution, without allowing ourselves to be coerced into decisions governed by external pressure tactics.”

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