P. Unni, an employee of the State-owned Traco Cable Company at Irumpanam in Kochi, was cremated on Sunday (December 1). His death has sparked allegations of mismanagement and incompetence within the company, which is grappling with a severe financial crisis and has reportedly failed to pay employee salaries for the past 12 months.
It is alleged that Mr. Unni ended his life, unable to cope with the mounting stress caused by the salary arrears. Senior INTUC leader P.P. Aliyar said the incident reflects the deep anxiety among employees about their future, despite the company’s potential to be a market leader in producing quality cables.
Robert C.J., secretary of the Traco Cable Employees’ Association (INTUC), alleged that Unni had been distressed about the company’s uncertain future and financial difficulties.
Expressing sorrow over the incident, sources in the Industries department said that the government had offered considerable financial assistance to Traco Cable over the years. Between 2020 and 2021, the company received ₹41 crore and a ₹ 14 crore loan from Kerala Minerals and Metals Limited (KMML).
Industries Minister P. Rajeeve said that the government is committed to reviving the company. As part of the revival plan, it has proposed merging the Irumpanam and Thiruvalla units to generate funds for clearing statutory arrears and offering compensation packages to employees unwilling to shift to the Pathanamthitta unit.
In a bid to address the financial crisis, the Irumpanam campus of the company was handed over to Infopark. The proceeds from this land transfer are expected to be used to retire loans and revive production. However, a group of employees has approached the court, challenging this decision.
The Traco Cable unit here employs 272 workers, according to department sources. It operates across three campuses: Irumpanam, Thiruvalla, and Pinarayi. The Irumpanam unit has been functioning since 1964.
Those in distress or having suicidal tendencies could seek help and counselling by calling any of the following numbers: Maithri – 0484-2540530; Thanal Suicide Prevention Centre – 0495-2760000
Published – December 01, 2024 08:12 pm IST
