German auto component maker Bosch today said workmen's union of its Bengaluru and Bidadi facilities have declared a day-long strike on August 30, sighting delay in the closure of the long-term wage settlement.
"The management is in discussion with the Union regarding long-term wage settlement with the intervention of the Additional Labour Commissioner, Karnataka," Bosch said in a regulatory filing.
It further said: "The company management believes in bi- lateral discussions to resolve such issues and will continue to engage with the union. As a fair and value-based employer, the company has a very attractive pay package and a selection of welfare measures that match the best in region-cum- industry".
Bosch said the production loss on account of the strike for a day is estimated to be around Rs 5 crore. However, customer fulfilment will not be adversely affected due to availability of stocks and other alternative measures taken by the management, it added.
Shares of Bosch were trading 0.32 per cent down at Rs 21,745 apiece on BSE.
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