Jamshedpur : Demanding better package for voluntary separation scheme (VSS) employees of Gamharia-based Tayo Rolls Ltd in adjoining Seraikela-Kharsawan district and their family members staged a blockade of the company gate today.
Due to agitation, none of the officials of Tayo, a sister concern of Tata Steel could enter the company. Moreover, employees of Tata Steel Growth Shop, another sister concern of the steel major, also could not attend duty as the entrance of both these companies is the same.
” We are left in lurch. Now the company is on the verge of closure. We had never thought that a company like Tayo will reach to such a phase. But as it is a question of life and death, we will fight till the last.
We want better compensation,” said wife of one of employees at the blockade site in front of the Tata Steel Growth Shop in the premises of which the Tayo Rolls Ltd situated.
As the blockade continued, the company’s managing director K Shankar Marar came to the unit in the afternoon and had a talk with to the protesting employees. The blockade was lifted at 4 pm.
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). Moreover, on May 26, the board of directors decided to introduce VSS.
According to a senior official of the company, the Board of Directors of the Company at its meeting held on May 26, 2016 approved the proposal to introduce employees VSS with immediate effect, and to suspend operations in a phased manner.