tumakuru it was a bad weekend for the last 120 employees of hindustan machine tools hmt in tumakuru who got their relieving letters as the psu shut down operations ironically the letters came on may day the hmt watch factory unit which once manufactured the premier brand of wristwatches like sangam utsav elegance and pilot among others was finally relegated to the pages of history indicating the sad state of affairs in psus the union government had already decided to shut down the hmt watch manufacturing units across india with the management closing two units in bengaluru the other units in jammu ranibag and tumakuru were shut at the same time on saturday nagarathnamma who claimed to be the first woman employee of hmt factory said the managements decision to relieve us on may day is not right we struggled to build the factory and gave everything to this unit another employee ramesh said he had worked here for sevenandhalf years but had got benefits for only 40 months this is the gift of prime minister modis make in india effect he fumed questioning how he could start a new life with this small amount and no hope of a job siddappa another employee said the management had threatened the employees to take voluntary retirement which meant that only six months salary would be given and the remaining amount would have been remitted to court fearing for our future we signed the vrs papers under force he claimed tnn published on may 2 2016 at 1215 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etretail app get realtime updates save your favourite articles scan to download app utsav sangam hmt may day homenewshmt shuts shop hands out pink slips to staffers on may day