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National
‘Walkout strike’ by LIC staff
Special Correspondent
BANGALORE: About 80,000 employees of the Life Insurance Corporation (LIC) went on a two-hour “walkout strike” across the country on Tuesday.
The All-India Insurance Employees’ Association (AIIEA), demanding a wage increase of 40 per cent, called the protest.
Amanulla Khan, president, AIIEA, told The Hindu that the work stoppage between 11.30 a.m. and 1.30 p.m. affected 2,500 branches, 105 divisional and eight zonal offices. He said the wage revision had been pending since August 1, 2007. Mr. Khan said wage cost, as a proportion of premium income, was much lower in India than in the U.S. and in Europe. The LIC’s wage bill is currently about Rs. 4,000 crore.
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