Chandigarh: Hindustan Machine Tools (HMT), a once flourishing company, is now facing huge losses and is on the verge of shut-down. Due to the company’s condition, the employees are also facing financial problems, which cause them a lot of trouble and sufferance.
The employees of HMT are suffering a lot which make them take extreme step at times. Similar case has been reported in the Pinjore district of Haryana, where an employee of HMT committed suicide.
KS Nagi, 52-year old, committed suicide by jumping off a water tank located in the residential area inside the factory premises. He was the joint general manager with HMT and was heading the tractor division.
On one hand, where HMT workers’ association claims that Nagi committed suicide due to financial constraint, as none of the employees have received their salaries for over a year, on the other hand, Nagi’s relatives say that he committed suicide due to the excess work pressure.
HMT, a public sector undertaking was formed in 1963. The company stopped making profits after 2001 and since then, has been struggling to revive its business. However, the company is now on the verge of closing down.