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assam company limited (533095) rising ✌️【Online Trading】✌️ Real-time updates on global stock trends and expert market analysis to help you select profitable stocks and grow your wealth effectively. The strike-hit plant in Sriperumbudur, the smaller of Samsung’s two Indian factories, employs around 1,800 people and makes electronic products rather than smartphones.
But it still contributes 20% to 30% of Samsung’s annual $12 billion revenue in India, said two sources with direct knowledge of the matter, speaking on condition of anonymity.
Posters saying “Indefinite Strike” went up outside the factory near the city of Chennai, where hundreds of workers in company uniforms set up tents to shade themselves from the heat.
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assam company limited (533095) rising ✌️【Online Trading】✌️ Free real-time stock data analysis to help you capture global market trends and steadily grow your capital. A spokesperson for Samsung India said on Monday that it actively engaged with workers “to address any grievances they may have and comply with all laws and regulations.”
assam company limited (533095) rising ✌️【Online Trading】✌️ Expert predictions of stock trends with real-time stock indices, metals, energy, and agricultural product data to help you make efficient investment decisions. The strike comes ahead of India’s festive season when consumers buy gifts or items for personal use, lured by discounts offered by manufacturers.
“A strike at this point puts a spanner in Samsung’s production ramp-up ahead of the all-important festive season sales beginning October,” said Prabhu Ram, a vice president at Cybermedia Research.
In South Korea, the 36,500 members of Samsung Electronics’ biggest worker union who have been demanding higher wages and benefits, held a strike for several days in July and August.
In India, its workers are demanding equal remuneration for those with the same length of experience, according to at least half a dozen employees who spoke on condition of anonymity.
“If they (Samsung) had given us a living wage and treated us with respect, we wouldn’t have thought of joining a union,” said one worker outside the factory, who declined to be named fearing reprisal from the company.
One poster outside the factory exhorted state labor officials not to support management, advising instead: “Discuss and solve demands from the labor union with union officials.”
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