Brief: ZF Steering Gear (India) Terminates Employment Of 236 Employees Following En-Mass Leave

Z F Steering Gear (India)

29/10/2018 07:28

Oct 29 (Reuters) - ZF Steering Gear (India) Ltd  ZFST.BO :
    * SAYS TERMINATION OF EMPLOYMENT OF 236 EMPLOYEES
    * ENQUIRY PROCEEDINGS WERE INITIATED BY CO TO INVESTIGATE
CHARGES
OF MISCONDUCT AGAINST EMPLOYEES RELATING TO EN-MASS LEAVE
    * SAYS CONCERNED EMPLOYEES WERE FOUND GUILTY OF MISCONDUCT
IN
PROCEEDINGS
    * ALL CONCERNED EMPLOYEES HAVE BEEN PAID THEIR DUE AMOUNT
UNDER
PROVISIONS OF LAW
    * SAYS COMPANY IS MAKING ALTERNATE ARRANGEMENTS SO AS TO
MINIMIZE
LOSS OF PRODUCTION

Source text: http://bit.ly/2Awqenb
Further company coverage:  ZFST.BO 

 ((Reuters.Briefs@thomsonreuters.com;))