Reliance Industries Ltd is planning a voluntary retirement scheme at its Patalganga complex, the company informed the Bombay Stock Exchange on Monday.
This is the first such scheme offered to the employees of the petrochemical complex which houses paraxylene, purified terephthalic acid, polyester chips, polyester fibre yarn and polyester stable fibre plants.
A RIL source refused to comment on the number of employees the company is targeting to separate through the plan. RIL, the world's third largest producer of paraxylene and largest manufacturer of polyester intermediates in India with an overall market share of 78 per cent, is working towards a comprehensive restructuring plan to enhance its competitiveness.
It had earlier offered a VRS scheme at its Naroda unit which produces texturised/twisted dyed yarn and spun yarn. The VRS at the Naroda unit attracted 4,600 employees with an outgo of Rs 90 crore (Rs 0.90 billion).
RIL had then reduced its workforce by 60 per cent from 7,000. The employee strength has further gone down with natural attrition.
RIL has rationalised its workforce at the textile units in Naroda following the company phasing out its sarees and dress materials products.
It is now focusing on mens-wear and value-added products such as home textiles. It has also forayed into marketing of home furnishing products under the harmony brand and has tied-up with Zeba Textiles.
