Bengaluru: Bosch Ltd said on Tuesday that an indefinite strike by its employees here since September 16 ended after conclusion of a wage settlement for 2013-16 with the union.
Bosch's Bengaluru plant reached the settlement with the Workmen Union-Mico Employees' Association (MEA) on December 8 and, with this, the prolonged "illegal" strike called by the union comes to an end, it said.
The Workmen Union has agreed to accept the company's last offered wage and benefits proposal that would enable the earning potential - the monthly cost-to-company (CTC) - of an average workman to increase from Rs 64,000 to Rs 86,000, subject to working as per industrial engineering standards for 7.5 hours of work in an eight-hour shift.
With this mutually agreed wage settlement, the Bengaluru plant will continue to be one of the best paymasters in the manufacturing and other comparable industries, the company said in a statement.
The company has also offered to confirm 100 of the 370 temporary workmen at a new intermediate wage level despite the fact that in future it is likely to have excess manpower due to change in product mix, the statement said.
"I am pleased to see all our workmen resume production. Despite the adverse effect of the strike, the company has made a generous offer to its Workmen Union and expects them to adhere to the agreed measures on productivity standards," Bosch managing director Steffen Berns said.
Bosch would continue its efforts towards establishing a trustful collaboration with its workmen and jointly finding a way to help the company in maintaining its competitiveness.
"This settlement is a step towards securing the future of our Bengaluru plant. We would like to reaffirm our commitment to India and its strong growth potential," he said.
The workers were on an indefinite strike from September 16 seeking resolution of their charter of demands, including wage issues, medical benefits, and on the issue of demand for productivity by the management.
The union had claimed that 2,575 permanent workers and 370 temporary workers were part of the strike, which the company had called illegal.
Bengaluru: Bosch Ltd said on Tuesday that an indefinite strike by its employees here since September 16 ended after conclusion of a wage settlement for 2013-16 with the union.
Bosch's Bengaluru plant reached the settlement with the Workmen Union-Mico Employees' Association (MEA) on December 8 and, with this, the prolonged "illegal" strike called by the union comes to an end, it said.
The Workmen Union has agreed to accept the company's last offered wage and benefits proposal that would enable the earning potential - the monthly cost-to-company (CTC) - of an average workman to increase from Rs 64,000 to Rs 86,000, subject to working as per industrial engineering standards for 7.5 hours of work in an eight-hour shift.
With this mutually agreed wage settlement, the Bengaluru plant will continue to be one of the best paymasters in the manufacturing and other comparable industries, the company said in a statement.
The company has also offered to confirm 100 of the 370 temporary workmen at a new intermediate wage level despite the fact that in future it is likely to have excess manpower due to change in product mix, the statement said.
"I am pleased to see all our workmen resume production. Despite the adverse effect of the strike, the company has made a generous offer to its Workmen Union and expects them to adhere to the agreed measures on productivity standards," Bosch managing director Steffen Berns said.
Bosch would continue its efforts towards establishing a trustful collaboration with its workmen and jointly finding a way to help the company in maintaining its competitiveness.
"This settlement is a step towards securing the future of our Bengaluru plant. We would like to reaffirm our commitment to India and its strong growth potential," he said.
The workers were on an indefinite strike from September 16 seeking resolution of their charter of demands, including wage issues, medical benefits, and on the issue of demand for productivity by the management.
The union had claimed that 2,575 permanent workers and 370 temporary workers were part of the strike, which the company had called illegal.
Bengaluru: Bosch Ltd said on Tuesday that an indefinite strike by its employees here since September 16 ended after conclusion of a wage settlement for 2013-16 with the union.
Bosch's Bengaluru plant reached the settlement with the Workmen Union-Mico Employees' Association (MEA) on December 8 and, with this, the prolonged "illegal" strike called by the union comes to an end, it said.
The Workmen Union has agreed to accept the company's last offered wage and benefits proposal that would enable the earning potential - the monthly cost-to-company (CTC) - of an average workman to increase from Rs 64,000 to Rs 86,000, subject to working as per industrial engineering standards for 7.5 hours of work in an eight-hour shift.
With this mutually agreed wage settlement, the Bengaluru plant will continue to be one of the best paymasters in the manufacturing and other comparable industries, the company said in a statement.
The company has also offered to confirm 100 of the 370 temporary workmen at a new intermediate wage level despite the fact that in future it is likely to have excess manpower due to change in product mix, the statement said.
"I am pleased to see all our workmen resume production. Despite the adverse effect of the strike, the company has made a generous offer to its Workmen Union and expects them to adhere to the agreed measures on productivity standards," Bosch managing director Steffen Berns said.
Bosch would continue its efforts towards establishing a trustful collaboration with its workmen and jointly finding a way to help the company in maintaining its competitiveness.
"This settlement is a step towards securing the future of our Bengaluru plant. We would like to reaffirm our commitment to India and its strong growth potential," he said.
The workers were on an indefinite strike from September 16 seeking resolution of their charter of demands, including wage issues, medical benefits, and on the issue of demand for productivity by the management.
The union had claimed that 2,575 permanent workers and 370 temporary workers were part of the strike, which the company had called illegal.
Shares in Bosch fell as much as 3.4 per cent on Tuesday. As of 3:14 p.m., Bosch stock was trading at Rs 20109.70 apiece on the BSE, down 0.38 per cent from the previous close.
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