Cochin Shipyard has entered into a Long Term Wage settlement with its workmen which will be effective from April 01, 2017 and valid for 10 years. The earlier wage settlement entered into with the trade unions was valid upto March 31, 2017.
The current settlement has been arrived at after protracted negotiations between the management and the workmen. The company has already catered to the increase in wages in its books of accounts through creation of appropriate provisions.
Cochin Shipyard is the first Greenfield and presently the most modern shipbuilding and ship repair yard in India. The company caters to clients engaged in India’s defence segment and global commercial shipping sector.