BYD Electronics workers to intensify protest for better VRS

Image
BS Reporter Chennai
Last Updated : Jul 04 2014 | 11:11 PM IST
The workers of BYD Electronics, a supplier to Nokia's Sriperumbudur facility, are expected to strengthen their protest for a better Voluntary Retirement Scheme (VRS) from the company.

Around 65 people of the total 1,500 workers have so far opted for the revised scheme, which will be closed by July 20, according to sources from the workers.

According to a BYD worker, the company has recently restructured its VRS offering keeping in mind the worker's experience.

Also Read

Under the revised conditions, the company is offering Rs 1.2-2 lakh as compensation along with the reimbursement of some of the leave benefits for those having experience upwards of five years. However, for those having an experience of two years, it is around Rs 80,000 along with leave benefits. Further, it differs according to the grade of the employee.

However, the union was looking at strengthening its protest against the VRS offer, and a proper decision is expected after a general meeting scheduled on July 6. The union leader and the company officials were not available for comment.

Earlier, in a tripartite discussion involving workers, union leader and company officials, it was announced the facility will be closed by July 10.

The company has offered a compensation of Rs 50,000 under the VRS and a basic salary of two months, which the workers refused to accept. Around 850 out of the total 1,500 workers went for a strike, which led to the arrest of three individuals, a source from the workers said.

"I am getting a salary of Rs 7,500 even after working for six years here. We do not want to work here anymore, but we are expecting a better package," said a woman worker in the past. The workers were then asking for a Rs 3 lakh compensation and eight months salary for each year.

"The management in a meeting said they would close the facility from July 10. They have already started illegal lock out by sending all workers on leave with a one week salary," said Vetrivelchezhan, state organising secretary of New Democratic Labour Front (NDLF).
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 04 2014 | 8:32 PM IST

Next Story