Signal Restored: Tamil Nadu Govt Says Samsung Plant Woes Resolved

The Tamil Nadu government stated it has a breakthrough solution at Samsung India's Sriperumbudur factory, putting an end to nearly a year of workers' unrest with strikes, protests and prolonged talks. The landmark agreement, settled at a meeting chaired by Labour Minister C V Ganesan, calls for a total hike in wages of ₹18,000 in three years-₹9,000 in 2025-26 followed by ₹4,500 annually for the next two years. Other benefits include an extra raise in salaries for experience, one-time promotions for long-term employees, extra leave, and bonuses.

 

This three-year wage deal, reached after over 30 rounds of talks between Samsung management and the CITU-backed workers union, closes out one of history's longest industrial slowdowns. The union, which had put up a nine-month protest, was pleased with the outcome. Samsung, which has around 1,800 employees in the factory, reaffirmed its commitment to workers' welfare and made plans of a fresh ₹1,000 crore investment in the factory.

 

Source: Deccan Herald, Financial Express