On World Bicycle Day, Atlas Cycles Shuts Operations, Lays Off 700 Employees

Mahesh Kumar, leader of the worker union from the unit said that nearly a thousand workers were working in the financially stressed company's factory.

Haryana   |   4 Jun 2020 12:39 PM GMT
Writer : Navya Singh | Editor : Shubhendu Deshmukh | Creatives : Abhishek M
On World Bicycle Day, Atlas Cycles Shuts Operations, Lays Off 700 Employees

On International World Bicycle Day, celebrated on June 3, Atlas Cycles limited in Haryana announced a temporarily laid-off as many as 700 employees and pasted a notice outside its production plant in Sahibabad.

Well known for manufacturing cycles since 1951, the company was forced to shut operations at Sahibabad unit. Atlas was already facing financial constraints for long and the COVID-19 lockdown further increased the stress.

"As you know that company was passing through a financial crisis for many years and had exhausted all its funds to keep the factory afloat but now there is no fund left. We are facing difficulty in arranging funds for our day to day needs and are also unable to buy raw materials and under these conditions, management is not in the position to operate the factory," the notice read.

Mahesh Kumar, leader of the worker union from the unit said that nearly a thousand workers were working in the financially stressed company's factory.

"This notice should have been given in advance, at least a week before to the employees. We were called to duty for two days and then suddenly we found this notice pasted today. Many people will get jobless and will be forced to fend for themselves if the management goes ahead with this decision," Kumar said on Wednesday.

He said that about two lakh cycles were being produced in the factory every month. The workers' union leader also alleged that the company's owners had previously shut down another factory located in another region last year giving similar reasons.

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