Hero workers shift to slow gear, production could be hit by 30%
If the slowdown continues, the per-day revenue loss for Hero MotoCorp will be Rs 2.5-3 crore.
This is the first time that the workers have actually slowed production after over 50 meetings relating to the wage deal since September last year. Till now, HMCWU had resorted to a silent protest by wearing black bands and boycotting company-provided snacks. Being the benchmark in the Gurgaon-Manesar industrial belt, HMCWU wants the wage hike to match the increase that Maruti Suzuki and Honda Motorcycle & Scooters announced for its workers recently.
The Hero MotoCorp share closed up 1.02% on the BSE at Rs 1,779.20 on Wednesday.
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