Jamshedpur, Sept. 15 : Employees of Tayo Rolls have decided to wage demanding resumption of production and payment of their pending salary. About 80 employees had staged a gheraoed the office at vice-president (Operation) Yaswant Pandey at Northern Town in Bistupur.
The move of staging the gherao was taken after about eight employees who had boarded a company bus at Sakchi for going to the plant in Gamharia were dropped mid-way near Jusco office in Bistupur early this morning.
After getting the information, about 70 more employees beside the eight gathered in front of the vice-president (operation) office on Bagmati Road in Northern Town and staged the gherao from 9.30 am.
Tayo Rolls, an associate company of Tata Steel has been shut in phases since 2016. The company’s case is now pending with the National Company Law Tribunal (NCLT) for revival.
There were about 700 employees, including over 220 officers. Though company has suspended its operation since May last year and most of the employees have taken their final settlements, 286 employees continues to attend their duty.
Though company has suspended the production, it still had provided the bus service for ferrying the employees living in distant localities for reaching the company in Gamharia, which is about 15 kms away from the heart of the city.
The Tayo Rolls Ltd had stopped production since August 2016 as the company was incurring huge loss since the past five years. The company had offered VRS and VSS for its about 800 staff, 400 of them were in the officers category. While over 550, including officers opted for the schemes, 283 workers preferred to remain on the company.
The 283 workers who did not opt for the VRS or VSS use to go to the company regularly and punch their duty card as usual.
Tayo Rolls Limited (formerly Tata-Yodogawa Limited) is a metal fabrication and processing company headquartered in Jamshedpur and a subsidiary of Tata Steel. Tayo Rolls’ products are primarily cast rolls, forged rolls, special castings and pig iron. It was promoted in 1968 in collaboration with Yodogawa Steel Works of Japan. It is the only company in the world to manufacture both cast and forged rolls right from iron ore with its integrated facilities under one roof.
But after 2008, the company continued to incur heavy loss every year and finally the Board of Directors in February decided to refer the company to Board for Industrial and Financial Reconstruction (BIFR).