Voltas Ltd has announced a voluntary retirement scheme to slash 300 jobs and has plans to cut an equal number as part of its efforts to shed flab and become leaner to take on competition.
Government on Tuesday approved the proposals of Oil and Natural Gas Corporation and Indian Oil Corporation to offer voluntary retirement to their surplus staff.
The Department of Heavy Industry has been undertaking appraisals of each loss making CPSE to assess the prospects of revival.
Looking to reduce cost of operations and become competitive, Bata India Limited plans a second round of voluntary retirement scheme this year.
MTNL's board has given the go-ahead to a voluntary retirement scheme for group C and D employees. It also announced its foray into 'Mobile Commerce', which will help customers to transact business with the help of mobile.
Not needed, it says, with 4,600 staffers to retire over next 3 years, plus transfer of 12,000 to new subsidiaries
The employees, who will avail the VRS, would get an ex-gratia amount of 60 days salary (basic + dearness allowance) for each completed year of service, or salary for the number of months left in the service, whichever is less.
The Indian Airlines board on Wednesday cleared an attractive voluntary retirement scheme for its 500-odd cabin crew.
The tribunal passed the order while hearing a bunch of petitions from the employees of Delhi Transport Corporation, seeking pension from the corporation which was denied to them after they had opted for VRS between 1993 and 1995.
The Centre on Friday announced a special voluntary retirement scheme for employees of four public sector general insurance companies to cut the excess flab.
The Reserve Bank of India has received applications from 3,491 employees so far for the ongoing optional early retirement scheme, which is intended to rationalise its staff strength.
A lump sum of Rs 100,000 has been offered under the VRS package.
The scheme will be offered to 15,000 employees, or one-third of the workforce, in the current financial year.
It was not immediately clear when Garg submitted his voluntary retirement scheme application to the government. It was also not known if the government would accept the application. If he hadn't applied for VRS, he would have retired from government service at the end of October 2020 on attaining of 60 years of age. Garg did not answer phone calls seeking his comments.
A decision on IPS officer Kiran Bedi's application for voluntary retirement from service is likely to be taken shortly.
The move by the BSF has not been seen kindly by Yadav's family which alleged that the trooper was being "threatened and tortured mentally".
Directing the DISCOMS to make the payments to the employees within three months, the Delhi high court asked them to adopt a method to pay pension, gratuity, leave encashment etc.
The RIL-owned Indian Petrochemicals Corporation Ltd has shed its workforce by about 12 per cent as it gave voluntary retirement to 1,550 employees, which would cost the company Rs 120 crore (Rs 1.20 billion) during the current fiscal.
Maruti Udyog Ltd, India's biggest carmaker, on Monday said its 1,251 employees have recently opted for voluntary retirement scheme.\n\n\n\n
Over 54,000 public sector employees opted for voluntary retirement scheme in 2001-02, Rajya Sabha was informed on Monday.
rediffGURU Sunil Lala answers your personal finance-related queries.
Ashwini Vaishnaw has repeatedly warned officials "to take VRS and sit at home" if they did not perform.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
This strategy was discussed when Union Home Minister Amit Shah recently visited Mysuru to discuss the BJP's Lok Sabha plan, reports Aditi Phadnis.
In a stern 'perform or take VRS' warning to officials sitting on files, Union Minister Nitin Gadkari on Thursday asked them not to become obstacles in the way of India achieving world class infrastructure.
The draft scheme, seen by PTI, said it will provide an option and a respectable exit route to employees who have reached a level of saturation in their career, may not be at the peak of their performance, have some personal issue or want to pursue their professional or personal life outside the bank.
The 1988 batch officer from Mau district in Uttar Pradesh is considered close to Prime Minister Narendra Modi and had worked with him in Gujarat.
State-owned Bharat Sanchar Nigam Ltd (BSNL) said on Tuesday that as many as 78,569 employees have opted for VRS, and added that it expects to save Rs 1,300 crore in wage bills this fiscal after the scheme becomes effective in January.
He was permanently absorbed into the ED cadre in 2014 and has headed some high-profile investigations into the 2G spectrum allocation case, the 2010 Commonwealth Games, the money laundering cases against former Union finance minister P Chidambaram and his son Karti Chidambaram, Andhra Pradesh chief minister Y S Jagan Mohan Reddy and former Jharkhand chief minister Madhu Koda, the Aircel Maxis and VVIP choppers case.
Tata Group-owned Air India on Wednesday announced the launch of new flights connecting Mumbai with New York, Paris and Frankfurt, starting February next year. Besides, the full-service carrier also announced the resumption of non-stop flights connecting Delhi with Copenhagen, Milan and Vienna. The Mumbai-New York (JFK International Airport) daily service will commence from February 14 next year, Air India said.
The ISRO spy case is dead. And yet, not dead.
Older workers are headed for the VRS exit in larger-than-expected numbers even as unrest stirs over unrevised wage settlements.
The top court reserved its verdict on a batch of pleas seeking a collegium-like system for the appointment of ECs and the Chief Election Commissioner and asked the parties to file written submission in five days.
The package includes raising of Rs 15,000 crore sovereign bonds to meet the immediate capital requirement of both the companies, 4G spectrum allocation worth Rs 20,140 crore, Rs 29,937 crore for VRS covering 50 per cent of their employees, and Rs 3,674 crore for goods and services tax that will be levied on allocation of radiowaves.
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