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Economic Times (India) 06/05/2020 08:53
GHAZIABAD: The shutdown of the last remaining unit of Atlas Cycles in Sahibabad earlier this week came as shock to its employees, who have threatened protests if it does not reopen soon. CEO N P Singh Rana said the shutdown is only temporary and the company will resume operations once it is able to raise about Rs 50 crore by selling surplus land. Till then the company is paying the "lay-off wages" to the workers, who still remain on the rolls. They are required to mark their attendance to get this salary. While Atlas Cycles says there were 431 employees remaining on the rolls of the cash-starved company, the workers' union claimed there are about 500 other temporary employees. According to Mahesh Singh, general secretary of the CITU-affilia.

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