JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
The bonus settlement for Tata Steel employees is expected to be finalised shortly, with discussions between the management and Tata Workers’ Union reaching an advanced stage.
Union President Sanjeev Chaudhary “Tunnu” held a meeting with office bearers at the Chhumeria Guest House in Jamshedpur, indicating that an agreement could be concluded by Wednesday evening or Thursday morning. Tata Steel MD & CEO T.V. Narendran, who was in Jamshedpur for the past two days, is scheduled to return to Mumbai after the settlement is signed.
The union has pressed for the continuation of the existing bonus formula, which it says benefits employees more. Management, however, is proposing a new formula. The current formula, introduced in 2014 and renewed annually, factors in profit percentage, profitability (profit per ton of steel), productivity (output per employee), and safety (Lost Time Injury Frequency Rate).
Last year, on September 9, 2024, Tata Steel distributed ₹303.13 crore as bonus among 26,479 employees, with an average payout of about ₹1.44 lakh per employee.
While no official confirmation has yet been issued by the company, employees are hopeful that the 2025 settlement will be finalised within the next 24–48 hours.
Also Read : Japanese Firms Confirm ₹4,000 Cr Investment in Karnataka: Minister M B Patil India targets 300 MT crude steel by 2030
The major ports in India saw a notable improvement in performance in FY24. They were able to cut the...
Logistics 02-May-2024
Zinc prices dropped 1.04% to ₹222.85 per kilogram in the futures trade as speculators reduced their...
Non-Ferrous 09-Feb-2024
Nagpur's Advantage Vidarbha event concluded with Deputy Chief Minister Devendra Fadnavis expressing...
Large Corporate 30-Jan-2024
West Bengal Chief Minister Mamata Banerjee on Tuesday virtually inaugurated Shyam Steel's ₹1,500-cro...
Business 27-Feb-2024
Crude oil futures fell, despite an uptick in attacks on merchant boats in the Red Sea and a drop in...
Energy 21-Feb-2024
September futures on iron ore, the largest traded commodity on the Dalian Commodity Exchange, have r...
Ferrous 15-May-2024