Industry & Economy
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Manpower
23 pc rise in retrenchments during '99
Our Bureau
NEW DELHI, June 7
RETRENCHMENT of workers witnessed more than 23 per cent increase during 1999 over the previous year. In its latest all-India survey, the Labour Bureau of the Ministry of Labour has said that 176 units resorted to retrenchments during 1999, affecting 2,503 workers.
This is 30.37 per cent more than the number of units affected by retrenchment in 1998. The maximum number of units going in for retrenchments was from the manufacturing sector. Forty per cent of the affected units went in for the retrenchments due to lack of demand for their products. The causes for remaining retrenchments were `financial stringency', shortage of raw materials etc.
The units in the private sector accounted for a maximum of 73.7 per cent retrenchments while 23.4 per cent of such units belonged to the public sector and 3.2 per cent units to the cooperative sector. Only 9.6 per cent units were from the Central sector while the rest were from the State sector. Over 68 per cent units affecting retrenchment of workers were in Gujarat. These units also accounted for 49 per cent of total workers retrenched during the year.
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