Ssangyong Motors’ union “I do not oppose the rehabilitation procedure guaranteed for employment”…Requested support from the government and creditors

Input 2020.12.23 15:53

Ssangyong Motor (003620)Ssangyong Motors Labor Union, a corporate union of the company, said, “We do not oppose the rehabilitation procedure with guaranteed total employment” when the company applied for both the corporate rehabilitation procedure (legal management) and the autonomous restructuring support program (ARS) to the court. Revealed.

The Ssangyong Motors union is operated by multiple unions, including the Ssangyong Motors Union, a corporate union, and the Ssangyong Motors Branch, a nationwide metals union. The union of Ssangyong Motors asked Mahindra, the largest shareholder, to take a responsible position, while also demanding support from the government and creditors.

On the 23rd, the Ssangyong Motors union said, “I am sorry that I applied for court management in 11 years following 2009,” but said, “The sale for rehabilitation of Ssangyong Motors is not a problem between stakeholders, but is in danger of being stranded by a third party, India’s internal regulations. The union agrees to submit an application for withholding the commencement of rehabilitation (ARS system) to the court as a decision to protect the total employment.”

Following that, the union emphasized that there are more than 600,000 workers and their families engaged in Ssangyong Motor and related companies, and said, “I reflect on myself and self-sufficiently about the rehabilitation procedure again in 2020 when all the dismissed workers who ended the pain of 2009 were reinstated. “I said. The union emphasized, “We will make more efforts to end the sale to ensure employment of all Ssangyong Motor workers and the workers of partner companies,” and emphasized, “If layoffs that distort the value of labor-management win-win are carried out on workers, we will never withdraw.”

The union explained, “We agreed to freeze wages this year in the process of self-reliance such as wage reduction and suspension of welfare from last year, and led the industry’s first labor-management agreement at an early stage.” did.

The union urged the majority shareholder Mahindra to “take a stance to terminate the decision so that the sale, which is the process of normalizing Ssangyong Motor, can be achieved.”

“Mahindra, who has damaged the firm will and spirit of sacrifice of all Ssangyong Motor workers, cannot be free from its responsibilities.” “The search for a new investment destination through sale is a plan suggested by Mahindra withdrawal of the direct investment plan of 230 billion won. This rehabilitation procedure also occurred because Mahindra, the major shareholder, was unable to reach an agreement with the investment destination,” he criticized.

“It is said that the direction of the major shareholder Mahindra was struck by a direct hit by Corona 19 and the investment was withdrawn, but if Mahindra’s responsibility is forced through the sale, we expect the government and creditors to actively support Ssangyong Motor.” The government and creditors actively participate during the ARS application period, so that an agreement between the stakeholders can be reached in a short time and the sale can be concluded, and Ssangyong Motor workers should not be forced to sacrifice unilaterally.”