Coal India to give Rs 20,000 bonus: Strike ends

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Coal India to give Rs 20,000 bonus: Strike ends
Coal India: Quotes, News
BSE 247.05BSE Quote10 (4.05%)
NSE 246.95NSE Quote9 (3.64%)
The workers of Coal India Ltd., finally called-off their seven-day strike after the management decided to give Rs 20,000 as bonus and an additional of Rs 1,000 as Diwali gift.

The stock of the company added gains on the bourses. Coal India was seen trading higher by 5.15 points or 1.60% on the news.

Earlier the workers of Coal India had threatened to go on hunger strike if their demands of pay hike and bonus were not met.

The ministry of Coal India later agreed to enhance Diwali bonus for their 3.66 lakh workers from Rs 17,000 to Rs 20,000 per head by giving an additional of Rs 1,000 as a gift on this Diwali.

The company has also decided to give Rs 1,000 to each of its 35,000 contract labourers.

With this, the company's bill of staff bonus will go up to Rs 771 crore.

On October 10, the workers of Coal India had gone on a day strike in demand of wage hike and higher bonus for which the company suffered a production loss of Rs 140 crore.

“The workers have now agreed to call off their strike and have assured to scale up coal production. The shortage of coal will be taken care of over the next 2-4 days,” Coal Minister Sriprakash Jaiswal said.

Read more about: strike, coal india, stock, bse, bonus
Story first published: Tuesday, October 18, 2011, 13:27 [IST]
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