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Maharashtra Govt warns Raymond of taking over Thane unit
09
Jul '10
Textile major, Raymond has been warned by the Maharashtra government that, it might take over its Thane unit, if the firm denies compensation increment to workers losing their jobs. Raymond pulled down its Thane unit's shutters, owing to non-feasibility of the unit to run textile operations.

Although, there is no clarity with respect to the state government's warnings, currently, Raymond has offered a compensation package of Rs 1.5 billion to its 2,500 labourers losing jobs. But the workers have demanded for two-times the aforesaid amount.

Almost all of 2,500 labourers in Raymond's Thane unit have been sitting idle, as most of the operations have either been moved to plants located elsewhere or discontinued. Even the voluntary retirement scheme, which was declared in January, received only 80 employee's nod.

Owing to these reasons, the state government decided to interfere in to the matter. Last week, Hassan Mushrif, State's Labour Minister, conducted a meeting, but the same did not give positive results, as the company maintained its stand of its inability to run textile operations in the unit.

In addition, investing money in the Thane unit, as per the company, also did not make sense, as it did not provide the expected results. State government has also denied the firm to make use of its property, until it pays up the due amount to its workforce.

As of now, the state government has urged Raymond to come back with a revised compensation package at the earliest possible.

Fibre2Fashion News Desk - India

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