Financial Times

Sinotex begins paying compensation to workers

 

Sinotex (Lanka) Ltd, among the oldest factories at the Katunayake IPZ, is to disburse around Rs. 320 million for the payment of compensation to 2,250 workers after the company said it was shutting down.
The company is now paying compensation but the workers expressed concern on the failure of the employers to stick to the agreed compensation formula, trade union officials said. The management of the company decided to close the factory from January 14 due to a reduction of export orders from the US market last year.

Trade union official Anton Marcus told the Sunday Times FT that the management has earlier agreed to pay the compensation based on the salary for the month of January 2009 which includes a Rs 1,000 salary hike. He added that the company has so far failed to discuss with the Labour Department the payment of statutory dues for employees including the compensation formula.


 
Top to the page  |  E-mail  |  views[1]
 
Other Financial Times Articles
> Sampath, LOLC keen on Seylan Bank
> Central Bank rules out any probe into Golden Key
> Mihin to repay SriLankan loans
> Mohan Pandithage, new chief at Hayleys
> SriLankan crew to have new garb
> Special CCC panel on Susantha’s issue
> New electric car hits the market
> CB: Playing with fire
> CSR in a period of recession
> Passport to the world from Institute of Chartered Accountants
> Changes to SriLankan’s FlySmiles programme
> Golden Key depositors storm company head office
> Novel degree on eco-business management
> Opportunities for SL in global credit crisis
> Exporters call for urgent exchange rate adjustment
> President meets Kandy businesspersons
> Airtel launches BlackBerry Solution in Sri Lanka
> Lanka Bunkering Services in damages claim of $1million against JKH/LMS
> Call for realistic exchange rates
> Foreign exchange controls restrict Lankan growth
> Dubai Chamber Chairman assures help for Sri Lankan business interests in Dubai
> Budding entrepreneurs should read biz sections of newspapers
> Business in brief
> India’s Raman Roy joins SLASSCOM advisory board
> Tea prices on road to recovery in 2009
> Asia Capital accounts under auditor’s scrutiny
> Sinotex begins paying compensation to workers
> Lanka’s main pest control company gets certified
> Russian Ruble in 6th devaluation this year
> E-WIS rated Silver in Corporate Accountability Ratings by Sting
> ComBank nominated ‘Bank of the Year’ for the 7th time
> Printcare forms alliance, sets up a global lottery marketing company
> Easy public access to T-Bills
> Private tea sales restricted
> George Steuart’s former chief, director file action
> Bank of Ceylon gets top world ranking
> Hard decisions needed on exports
> Long term supplier credit options could help cushion inflation
> CSE best performing market globally
> HSBC’s home and away scheme wins support
> Upadeshana, counselling service for debtors in distress
> Adawatte Estate ranked No 1 for second consecutive year

 

 
Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2008 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution