KOCHI:
Cochin Shipyard entered into a Long Term Wage settlement with its workmen which will be effective from 01.04.2017 and valid for 10 years. The earlier wage settlement entered into with the trade unions was valid upto 31.03.2017.
The memorandum of settlement was signed in the presence of P K Lukas, Dy Chief Labour Commissioner and Conciliation officer (Central), Kochi. The current settlement has been arrived at after protracted negotiations between the management and the workmen . CSL has already catered to the increase in wages in its books of accounts through creation of appropriate provisions.
