The 19-day strike over wage demands at Lanka Tiles PLC (LTP) ended on Monday after a mutual agreement was reached between unions and the management, company officials said.“We signed an agreement with the union on Monday with regard to their salary increases,” Mahendra Jayasekera, Managing Director LTP told the Business Times.
He said that the LTP management improved on the salary negotiations made while the workers had come down on the demands made. Of the 190 workers involved in this strike which is a sizable majority of the workforce, about 120 are entitled to payments linked to the Cost of Living Index (COLI). Others are entitled to a consolidated salary.
Those under the COLI had wanted a Rs 4,500 increase for the next three years while the rest want a Rs 8,000 hike for the same period. Mr. Jayasekera said that the new agreement will see Rs 250 added to the basic salary of the workers and a further Rs 250 added to their existing attendance bonus.
He said that this agreement is in force for three years starting from June 1.
The strike cost the company more than Rs 30 million in lost production and possible imports to cater to demand were being considered. The strike began on August 12.