Maruti Suzuki India: Quotes, News

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It has been reported that 'From Tuesday onwards the company will start hiring trained technicians, who will be on the permanent rolls, to replace the current workers who refuse to sign the bond.'

The Maruti Suzuki official declined to comment. On August 29, the management locked out the workers and said that workers will only be allowed in if they sign the 'good conduct bond'.

The bond states that workers will "not resort to go slow, intermittent stoppage of work, stay- in-strike, work-to-rule, sabotage or otherwise indulge in any activity, which would hamper the normal production in the factory".

According to the reports, of the 2,500 employees on the plant, 81 workers have agreed and signed the bond. Of these there are approximately 1,000 workers that have permanent job with the company.

The stand off started as five-permanent workers of Maruti Suzuki were dismissed and another 26 permanent workers were suspended. Also the services of 18 trainees were discontinued on charges of sabotage and causing quality problems in cars.

Satwanti Ahlawat, Haryana Labor Commissioner, said that the good conduct bond that the management is insisting for workers at Manesar plant is as per rules.

"Whatever the bond that the management (MSI) is asking its workers to sign is as per rule and workers will have to sign it," she was told PTI.

With Chairman Osamu Suzuki ruled out any compromise on discipline, this provided a booster in the arm of the Indian company.

"Indiscipline is not tolerated... not in Japan, not in India. It is never in the interest of any company and its people," Suzuki was quoted.

VIEW: We reiterate our earlier view of reducing position in this stock for now.

GoodReturns.in
(with input from PTI)