Kirloskar Electric’s Tumkur unit lays off 36 workmen for 3 months; stock dips 1%

These workmen will continue to be on a lay off from March 11, 2021, to June 10, 2021, the company said.

Mar 15, 2021 12:03 IST India Infoline News Service

Kirloskar Electric Company Limited unit situated at Hirehalli, Tumkur (unit-7) has laid off 36 out of 84 workmen for a period of 90 days.

“Accordingly, the said 36 workmen will continue to be in a lay off from March 11, 2021, to June 10, 2021,” the company said in a regulatory filing on Friday.

The company had laid off its workmen at the Hirehalli, Tumkur and Budihyal plants from June 12, 2020, as a temporary arrangement due to Covid-19 impact and has sought many extensions thereafter from the concerned labour department.

At around 12.05 pm, Kirloskar Electric Company Ltd was trading at Rs13.56 per piece down by Rs0.19 or 1.38% from its previous closing of Rs13.75 per piece on the BSE.

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