A 37-day-long strike by workers at Samsung Electronics' unit in Sriperumbudur was called off on Tuesday following their extensive negotiations with the management and the Tamil Nadu government. The agreement encompasses an earlier wage hike decision, an assurance that no disciplinary action will be taken against those who participated in the strike, and a commitment by workers to refrain from any "pre-judicial" actions against the company.
At the heart of the strike were calls by the workers, led by the Centre of Indian Trade Unions, for a wage increase -- a demand that Samsung management had already conceded to early on. However, the CITU extended the strike to press for official recognition of its union at the factory, a matter now pending in court. As part of the settlement, both parties agreed to await the court's verdict on union recognition.
The state government has expressed support for the union's registration, and with this, the CITU has consented to cease all strike activities.
This story is from the October 16, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 16, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Ratan Tata: Picture perfect
Politeness is to human nature What Warmth is to Wax.
I chose DLF over Disneyland dream, says KP Singh
KP SPEAK: Gurugram remains a developing city; urban planning needs a long-term vision, the PM must set up a high-powered panel for it
REDISCOVERY OF INDIA
Indian collectors are reclaiming Colonial-era art created by foreigners as an intrinsic part ofthe country's history
Go for fund with large AUM, high credit quality and low cost
Liquid funds have offered an average return of 7.28 per cent over the past year.
Auto majors in slow lane on weak demand
TaMo, Maruti, SMIL stocks down up to 23% in 4 weeks; analysts say downside risk limited, an opportunity for long-term investors
Volume growth for NMDC to remain robust in H2FY25
NMDC's revenue in Q2FY25 came in at ₹4,900 crore (a rise of 23 per cent year-on-year or Y-o-Y), while it was down 9 per cent quarter-on-quarter (Q-o-Q).
CIEL HR to file draft papers for ₹450 cr IPO
CIEL HR Services (CIEL), which uses technology to provide human resources solutions, will soon file draft papers for an initial public offering (IPO) estimated to be around ₹450 crore in size, according to sources.
Angel funds see red in Sebi's new accredited investors-only proposal
The Securities and Exchange Board of India's (Sebi's) proposal to allow only \"accredited investors\" to invest in angel funds has raised concerns in some quarters, even as most fund managers believe the overall ecosystem was set for a boost.
CLSA does U-turn on China, ups India exposure after Trump win
Says India seen as more attractive investment destination due to its strong economic growth and relatively low exposure to trade risks
Unfazed by mkt fall, largecap, flexicap MF schemes shine in Oct
Both categories saw all-time-high inflows during the month
