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Sterlite offers VRS to staff transferred to Korba

Sandip Das

Sterlite Industries has offered a VRS package to those executives of Bharat Aluminium Company who were recently transferred en masse to Korba as a part of the company's plan to shift its headquarters from Delhi after divestment.

Those executives who did not opt for VRS, have joined work at Korba. Company sources told Business Standard that about 22 executives out of the 45 in the Delhi office had applied for VRS.

As part of the package, executives will be paid 60 days' salary for each year of services put in or remaining years of services, whichever is less.

"VRS will be given to those executives who apply for the same before July 31," a senior Balco official said.

Earlier, the aluminium major had ordered all the executives from Delhi to report at Korba plant on July 2. Subsequently, bowing to pressure from employees, it deferred its decision till July 23. However, the marketing department was excluded from it.

Sources confirmed that Balco managing director SC Krishnan had assured the officials that they would be given options such as VRS and permission to ask for withdrawal of transfer orders on personal ground before the order came into force.

The employees union had earlier alleged that such a mass transfer would vitiate the already tense atmosphere prevailing in the company after the divestment of the government's majority stake in it.

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