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Home arrow News arrow Business News arrow Shanthi Gears resumes operation after lockout yesterday
Shanthi Gears resumes operation after lockout yesterday Print E-mail
Written by Satish   
Thursday, 23 July 2009
Coimbatore: Shanthi Gears has resumed operations in all its units with effect from July 22, 2009 at 7.00 a.m. Yesterday the company had declared a lockout for all units with effect from 6.00 p.m. on July 20, 2009.

In a notification to the exchanges, the company is said to have declared the lockout "for the safety of the properties of the Company and for the safety of the employees." It has resumed operations, "considering the normal situation."

In May, this year, Shanthi Gears had announced that the Company was in the process of revamping and restructuring the entire operational and organisational structure. This was expected to lead to slowdown in production in all units for a short tenure. Employing close to 700 people, the company clocked a turnover of Rs 252 crore last year.

According to sources, the company was facing labour problems, as it had to let go of nearly 200 workers over the last six months, due to the global economic slowdown. This is said to have resulted in an unrest among the workers.

Shanthi Gears, in a bid to increase productivity, had also revealed plans to rationalise its operations by operating from 2 units instead of 6 (including the foundry division and the machine shop).

 
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