Struggle of Muthoot Finance Employees Enters its 36th Day

The protest by employees of Muthoot Finance against the termination of 164 staffers from various branches across Kerala entered its 36th day on Monday. The employees, under the banner of Muthoot Finance Employees Union (MFEU), had resumed their struggle which had paused due to COVID-19 in March 2020. They began protests again on January 4 this year against the “anti-worker” policies of the management.

In all the struggle has completed 425 days against the “anti-worker” policies of the management. The protest venue, in front of company’s head office in Kochi, has been witnessing mass participation from various sections of society. Several unions have supported the employees. The MFEU, which is part of Non-Banking and Private Finance Association (NBPFA), is affiliated to CITU (Centre of Indian Trade Unions).

Each day, unions and employees reach the protest venue in solidarity with the struggle of the Muthoot employees. On February 5, the ASHA workers union joined the Muthoot employees in solidarity. ASHA workers union Ernakulam district president AP Lauli had inaugurated the protest that day.

On February 4, employees under the banner of Cochin Special Economic Zone Workers Association joined the protest in solidarity with the Muthoot Employees. On February 3 it was the turn of Ernakulam District Private Hospital Employees Association.

Kerala NGO Union Members March on February 2 in Solidarity with Protesting Muthoot Employees

Earlier, on December 7, 2019, the Muthoot management had terminated as many as 164 employees without serving them any notice. The management had also declared that 43 branches of the company across Kerala would be shutting down. Due to this, employees from 568 branches, including the head office in Kochi, had launched an indefinite strike on January 2 last year under the banner of the NBPFA.

The COVID-19 pandemic had forced the MFEU to call off the strike on March 26, 2020 following an order by the state’s labour department. The employees, however, staged a three-day protest again from November 23 to 25 last year raising the same issue. However, the management has not moved from its stand even a year after the termination of the employees. So, the union and employees have resorted to yet another protest against the policies of the management.

“It is a year after the management had terminated 164 employees including the union leaders and closed down the branches where the union leaders had been working as revenge against the unionisation of employees. Since then, the union staged several protests including the 84-day indefinite strike, which was called off later due to the Covid-19 protocols,” said C.C. Ratheesh, secretary of the NBPFA.

“The High Court intervened in the matter and appointed an observer and held 22 rounds of talks, but the management has been adamant and this forced the employees to resume their protests,” Ratheesh added.

The management has maintained that the Kerala chapter of the company was running at a loss and that this was the reason behind the closure of the branches. However, unions say that the “illegal termination” of the employees was a retaliatory move by the management in response to the employees staging a 52-day strike, which had begun on August 20, 2019.

Though the management has cited operating losses, they once publicly declared that they did not want to engage with the NBPFA and the CITU. Of the terminated employees, four are office bearers of the Muthoot Finance Employees Union. Another 30 of them are working committee members of the union and the rest are active members.