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Monday, 19 July 2010 |
The Maharashtra government may take over Raymond’s Thane unit if the company refuses to
increase compensation to workers losing their jobs. The company has offered a compensation package of Rs 150 crores to its workforce of 2,500 while workers are asking for double the amount. Raymond closed its Thane unit on the grounds that it was no longer viable to run textile operations in what is now a predominantly urban region and is using the estate to build a premium housing complex. Of the 160 acres on which the factory stands, the company, according to reports, plans to use 25 acres for building a residential complex. This has upset the workers who claim they are yet to be paid compensation.
The voluntary retirement scheme announced by the company in January this year evoked a luke warm response with only 80 employees opting for it. The tug of war between the two sides triggered violent protests last month, which saw a group of workers led by local political musclemen barging into the company premises. In addition to the threat of takeover by the Maharashtra State Textile Corporation, the state government may bar Raymond from using the land for any other purpose unless the company hikes its compensation to workers. The Raymond Group was incorporated in 1925 and within a span of a few years, it transformed from being an Indian textile major to a global conglomerate. |
