Official Statement by Vikram Solar on the Current Condition
“The domestic solar manufacturing industry has long been advocating for a level playing field. However, a slowing economy, inconsistent policy implementations, unfavorable trade policies, and liquidity crises have impacted the sector severely in the past few months. Moreover, recent global events have also impacted supply chains.
Consequently, Vikram Solar is making production adjustments in response to market conditions. Unfortunately, this scenario has resulted in a number of difficult but necessary organizational changes. Vikram Solar has extended Early Separation Scheme to 320 employees from one of the production workforce based at Falta, West Bengal. The second facility is functioning normally.
We sincerely regret the impact this decision may have on our employees and their families. We appreciate the many contributions these employees have made to Vikram Solar and are committed to extending support and treating all employees with respect and dignity as they transition to new opportunities outside the Company.
Our delivery and service commitments stand tall and we will do everything it takes to meet these commitments. Our teams are working round the clock to ensure that we address any challenges to emerge as a stronger company.
Vikram Solar’s focus remains its utmost respect for its employees and long-term health of the company, with customers in mind.”
ABP – Bureau – Employees sit on a demonstration seeing the closure notice hanging in Solar equipment manufacturing company factory. This is an incident of Sector 2, Falta. According to the local and police sources, Vikram Solar has two manufacturing units in the locality and the employee count is about 1500. Saturday Morning, as they reached the factory, they found the notice hanging and door locked. The notice said, because of economic downturn, they have decided to keep the unit shut. The notice also mentions that they will provide a salary of four months to all the affected employees, they will have to share their application by 21st February. A sudden development had caused the stir. Employee from both No. 1 and No.2 sit on the demonstration. They demand Rs. 5 lakhs rupee as compensation and PF Money for loss.
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ABP – Bureau – Employees sit on a demonstration seeing the closure notice hanging in Solar equipment manufacturing company factory. This is an incident of Sector 2, Falta. According to the local and police sources, Vikram Solar has two manufacturing units in the locality and the employee count is about 1500. Saturday Morning, as they reached the factory, they found the notice hanging and door locked. The notice said, because of economic downturn, they have decided to keep one of the unit shut. The notice also mentions that they will provide a salary of four months to all the affected employees, they will have to share their application by 21st February. A sudden development had caused the stir. Employee from both No. 1 and No.2 sit on the demonstration. They demand Rs. 5 lakhs rupee as compensation and PF Money for loss.
