Hero Motocorp's continuing labour unrest has given the company many sleepless nights. The management and workers are in talks that have been going on for the past nine hours, reports CNBC-TV18's Ronojoy Banerjee.
The talks seem to have concluded, but they have failed again. This seems to be a big psychological setback if not anything else. Sources from both sides indicated that they were expecting a settlement somewhere around midnight today.
There are a few reasons why the talks seem to have failed. From the union side, there are five members who are sitting with the management to discuss the settlement terms. In most wage settlement cases in the auto sector, there are maximum two or at the best three members from the union who sit with the management.
In this case, sources have said that the union members did accept the settlement terms. However, when they went out to discuss it, some sort of an internal disagreement seems to have taken place between them. Following that, they came back and rejected the offer.
Some of the union members who are directly negotiating this wage settlement confirmed that they expected the settlement would take place tonight, but it has failed yet again.
Today, as per the schedule, it was only the Additional Labour Commissioner who was supposed to intervene in the talks. However, soon after the meeting commenced, the Labour Commissioner himself intervened to ensure that there is a sort of a settlement.
What is worse is that no new date so far has been given. The Labour Commissioner is said to be still there and he might come out with a new date. However, clearly both sides feel defeated at this point in time and it is a big psychological setback not just for the company, but even for the union.
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