Bonus bargain to begin today

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  • Published 16.09.13

The economic slowdown notwithstanding, worker unions in Jamshedpur will leave no stone unturned to push for a good deal as far as their annual bonus is concerned.

In most companies, including Tata Steel, Tata Motors, Jusco, Lafarge and Indian Steel and Wire Products, negotiations between management and respective unions is expected to begin from Monday so that employees receive the money before Durga Puja.

Sources from Tata Workers’ Union, the recognised employee outfit of Tata Steel, said that the steel behemoth had in 2012 signed a three-year contract with the union for paying 17.69 per cent bonus to employees. However, the union will still push for a hike during the talks.

Despite the slump in the automobile sector, Telco Workers’ Union — the Tata Motors employees outfit — is expecting a generous bonus.

“The company’s three-year wage revision, which was signed recently, was impressive and has raised our hopes. Despite the slump in auto sector, the wage revision agreement ensured a hike between Rs 7,000 and Rs 9,000 per month to employees. We are looking forward to a good deal,” said Santosh Singh, a senior functionary of the union.

He added that talks would begin on Monday and bonus would be declared by the end of September.

Timken, Tata Ryerson, Tata Cummins and Lafarge had paid 20 per cent bonus to the workers last year. This year too, the respective unions are hopeful of a bounty.

“We will bargain for at least 20 per cent bonus,” said Bijay Khan, a senior union member of Lafarge.

Veteran trade union leader Rakeshwar Pandey, who heads the union of over a dozen companies expressed concern over the slowdown. “We will try to strike the best deal with the management of companies in this hour of crisis. Employees will definitely get their rightful dues,” he said.