A Dossier on Visakhapatnam
VSP cuts production incentive for its executives
Visakhapatnam Steel Plant cuts production incentive for its executives. Steel Executives Union expresses displeasure.
Steel Plant, April 26, 2011
The Steel Executives Union (SEU) expressed its displeasure at the recent decision of the Visakhapatnam Steel Plant to reduce the production incentive that is given to its executives. Executives of various departments are seen wearing black badges as a mark of protest.
VSP generally gives production incentivise to its executives. This generally will be to a tune of Rs. 4000 to Rs. 10000 per month. VSP has now decided to cut this by as much as 84% which means that it will impact the salary that is taken home by the executive staff.
The General Secretary of the SEU said that the union has submitted a memorandum appealing the management to reconsider the same. The Union highlighted that non-executive staff continues to get the same level of production incentive.
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