 "Nalco rides on London Metal Exchange gains, sees room for more price hikes")
The unrestrained hike in wage bills year after year is steadily eroding National Aluminium Company's (Nalco's) competitive edge in metal production.
A research report by brokerage firm Motilal Oswal shows employee wages now account for more than $500 per tonne in the cost of aluminium production, the highest in the world. Although Nalco's total headcount had subsided two per cent to 6,776 at the end of 2017-18, average recurring annual wages per employee still climbed 32 per cent to Rs 2.9 million -- the report dubs it as the highest in the Indian metal and mining industry. Wages are eroding
