Demanding compensation, employees of Sanofi Bangladesh have decided to go on fast-unto-death from tomorrow (Saturday), although the management terms it "illogical."
The announcement for protest came at a time when the French drug maker started its shares transfer process to the Beximco Pharmaceuticals.
The leading local drug manufacturer has already won the bid for around 55 per cent shares in the firm and agreed to pay 35.5 million British pounds.
Citing business strategy, the multinational drug firm in September in 2019 showed its intention to sell the controlling stake and it selected Baximco as the potential buyer last month.
At a press conference on Thursday in Dhaka, leaders of the Sanofi Bangladesh Workers-Employees Association said they have been demanding compensation since the media broke the news of its exit.
Despite the movement, they have been continuing their operations over the last 15 months to thrash out an amicable solution, they said.
"But the management on Wednesday made it clear it would not compensate us, which is unfortunate and unacceptable at all," general secretary of the union Sanjib Kumar Chakraborty said.
The rejection after a long patience forced them to go for the hunger strike from Saturday and it will continue until their demands are met, he said.
"We call upon the management to accept our proposal and break the impasse," he added.
When contacted, managing director of Sanofi Bangladesh Muin Uddin Mazumder said from the beginning of the acquisition move, Sanofi has consistently reaffirmed their employees' interests would be protected.
As part of the intention, he said, the company selected Beximco as the potential buyer with the guaranteed employment for three years instead of the earlier commitment of one year.
Mr Mazumder said the workers and employees will also be able to receive their perks like provident fund, gratuity and workers' profit participation fund as soon as they resign.
However, the workers and employees will be able to get the opportunity to rejoin the company with a three-year job guarantee, he explained.
"Fresh appointment will be based on the facilities that they are getting as of today. So, their benefits are well-protected," he said.
Regarding pension, he said, Beximco has agreed to continue the pension fund, although the company does not provide the facility to its employees. But for getting the benefit, all employees need to agree on the continuation of the fringe benefit.
About the compensation, the managing director said there is no provision for it as all the existing benefits are protected.
"I don't know why they are making such a demand, which is illogical. Look, it's not a closure or shut-down as the production will continue," he said.
"Job guarantee is here. Benefits are protected. So we don't find any logic behind it," he added.
The state-run BCIC holds 19.962 per cent stake in Sanofi Bangladesh, the ministry of industries 25.396 per cent and 54.642 per cent is owned by the multinational company, which will be purchased by Beximco.
