PSU NEWS
SAIL implements VRS- 1038 employees take the offer
NEW DELHI . SAIL has said 1,038 employees took its Voluntary retirement Scheme (VRS), which will have a one-time financial impact of Rs 213 crore on the firm.
In line with the consistent efforts for enhancing productivity, improving manpower profile, rationalisation of manpower and optimisation of manpower cost, the company implemented the VRS during the period from May 1 to June 30, 2016 at all its plants units, it said in a BSE filing.
“Voluntary retirement of total 1,038 number of employees has been approved under this scheme. The one time financial implication for the scheme works out to Rs 213 crore (VR Compensation), with envisaged savings of Rs 103.80 crore per annum,”it added.
The state-run company has around 86,000 employees across its 10 plants spread across the country. The Hindu
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