Friday, October 21, 2011

Maruti Suzuki loss at over 700 crores due to strike

India's largest passenger car maker, Maruti Suzuki, has lost over Rs 700 crores due to the 14-day-long strike at Maruti's Manesar plant. The strike was called off today following a tripartite agreement between the management, workers and Haryana government.

The agreement provides for reinstatement of 64 dismissed permanent workers by MSI, which will also take back 1,200 casual workers. However, 30 permanent workers will remain suspended.

The Haryana government signed separate tripartite agreements with the management of Maruti Suzuki India (MSI), Suzuki Powertrain India (SPIL) and Suzuki Motorcycle India Pvt (SMIPL

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