General Insurance Corporation plans to tap professional institutions like Indian Institute of Technology and Indian Institute of Management for young managers after cutting flab through a voluntary retirement scheme in the next fiscal.
Looking to reduce cost of operations and become competitive, Bata India Limited plans a second round of voluntary retirement scheme this year.
The Indian Petrochemicals Corporation Ltd, a Reliance company, has announced a one-time voluntary retirement scheme for its workers.
The Indian Airlines board on Friday approved a proposal to set up a wholly-owned subsidiary to undertake airport handling and allied services.
The government has cleared a second round of voluntary retirement scheme for shedding 10 per cent of the total workforce of public-sector general insurance companies involving a cash outgo of Rs 1,000 crore.
In order to cut flab and improve efficiency, public sector general insurance companies are planning to offer a second round of voluntary retirement scheme to their employees.
Over 54,000 public sector employees opted for voluntary retirement scheme in 2001-02, Rajya Sabha was informed on Monday.
The Unified Pension System (UPS), approved by the Union Cabinet on Saturday, is "fiscally prudent" as it will be funded within the Centre's fiscal projections, according to T V Somanathan, the Cabinet Secretary-designate. Speaking to Business Standard immediately after the Cabinet nod, former finance secretary Somanathan, who headed the committee set up in March 2023 to review the National Pension System (NPS), said the UPS will not postpone pension expenditure as it will be contributory and financed each year.
Oriental Bank of Commerce on Friday said its profit will dip this fiscal due to acquisition of the ailing Global Trust Bank and hinted at another round of voluntary retirement scheme to cut excess flab.
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.
Naveen Patnaik is known as an "absentee landlord" who needs bureaucrats like Pandian to run his government.
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.
Understanding severance pay isn't just for those who are losing their jobs
The government is betting on the fact that it will be conducive for the new owner to give voluntary retirement scheme
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.
Company is among the few companies in the sector getting pulled up by FDA for violations at its factories in India.
In about a fortnight, Vistara - known for its premium service - will take off on its final flight before merging into the legacy of Air India. Set for November 12, the merger has sparked discussions on how these two distinct brands will blend.
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.
