Wage settlement meeting at Hero Moto ends in deadlock

The meeting between Hero Motocorp management and its Gurgaon workers has failed to break the settlement deadlock. The workers rejected the managements' offer to increase their salaries by Rs 6,500 per month, reports CNBC-TV18 quoting sources.

Q3FY13 Preview: Auto cos margins to remain under pressure

The workers have demanded pay parity with their Honda and Maruti counterparts. HMSI offered a hike of Rs 14,700 per month to its 1,800 permanent workers.

Hero Morocorp, when contacted, said that talks were on with the Gurgaon union to solve the situation amicably.

Kamal Sharma, President - Employees Union, Gurgaon Plant, Hero MotoCorp said, "The management's offer is not satisfactory. Other companies like Honda and Maruti have offered better settlement packages."