6:39 am - Thursday November 5, 2015

Bajaj Auto union demands ‘insane’ and ‘preposterous’: Rajiv Bajaj MD

109 Viewed Alka Anand Singh Comments Off on Bajaj Auto union demands ‘insane’ and ‘preposterous’: Rajiv Bajaj MD

Mumbai – Rajiv Bajaj, MD of Bajaj Auto on Thursday termed the demands made by the workers’ union in Chakan plant as ‘entirely insane’.

Vishwakalyan Kamgar Sanghtana, the workers’ union came out with the circular earlier this week yet again raising the demand that all workmen at the company should be given an option to subscribe to Bajaj Auto’s equity shares at a discounted rate of Rs 10 or else they threatened to stop work from the morning shift of 28th April 2014. The circular issued by the Union said that each workman should be allowed to purchase 500 shares.

The shares of Bajaj Auto were trading in the BSE at Rs 2007, a share on Thursday at 11.45 am, a marginal gain of Rs 6.60. This is despite the looming threat from the Union of stopping work at Chakan plant.

In a signed statement issued by the company management on Thursday, Bajaj shot back saying, “If the demands of the union were somewhat preposterous the last time in June 2013, they are entirely insane this time around. It seems to me that with some of the irresponsible union leaders and members, the management is guilty of sparing the rod and spoiling the child.”

Further to their demand for shares at a discounted rate, the workers union asked the company to allocate its 2% for corporate social responsibility. Of that 50% be allocated for Tribal, malnutrition and other issues of downtrodden class, with the rest 50% be apportioned for Education Fund for workers children.

“To monitor the CSR activities a joint committee should be established with 2 representatives each from the union and the management,” added the note from the union.

This threat from the union is a continuation of its charter of demands to the company workers made in June of 2013, which included revision of wages, along with the option of offering a worker the company share free of cost. Because of the standoff Bajaj Auto’s production at the Chakan plant was impacted for almost 50 days and the company had to resort to moving production to its Waluj plant in Aurangabad of Maharashtra to make up for the demand in the market.

“We will be certain not to repeat that error while taking all possible care to ensure the safety of the majority of our colleagues who wish to continue to work, as also the continuity of production so as to protect the interests of our customers, dealers, and suppliers,” added Bajaj.

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