Kochi (Kerala): Watch CITU a CPM affiliated trade union workers, threatening a woman employee that they will chop off her arms if she resumes working in Muthoot Finance. The communist goon says that there are fifteen cases against him in the court and wouldn’t hesitate to attack her and her family if she dares to open the office.
Amid the continuing strikes of the leftist trade union CITU, the management of Muthoot Finance Ltd decided to close down its nearly 300 branches in Kerala. In a move that will cause the unemployment of more than 2,000 employees working in various branches in the state, the General Manager issued a circular regarding the closure of the branches.
The Muthoot Finance company under Muthoot Group has been facing a strike for a week by a section of staff demanding revision of wages. Around 450 employees belonging to the CITU out of 3,000 workers of the company in the state were on strike. Earlier a company official had told reporters in Kochi that frequent strikes had hit the functioning of the branches for several days.
The company having 5,200 branches countrywide has Rs 2000-crore profit now. Out of 950 branches in Kerala, 300 have been closed over the last three years, mainly because of the interference of the left trade union. The company says that the management is unable to withstand the huge financial loss due to the strikes which have affected their functionality greatly.