The Indian Airlines board on Friday approved a proposal to set up a wholly-owned subsidiary to undertake airport handling and allied services.
As part of its workforce restructuring at the Kurla manufacturing unit, Fiat India Ltd on Monday said it has accepted the voluntary retirement of more than 50 per cent of its employees at the plant.
With a new chief executive officer (CEO) at the helm, the country's largest two-wheeler maker Hero MotoCorp is now looking to cut flab and move towards a leaner organisation. It has launched a voluntary retirement scheme (VRS) for its staff as it aims to make the organisation 'agile and future-ready'. Recently, the company's erstwhile chief financial officer (CFO) Niranjan Gupta was elevated as CEO.
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.
State-owned MTNL, dogged by a flabby workforce and tremendous pressure from unions against job cuts, has achieved a virtual feat by successfully offering voluntary retirement to over 1900 employees.
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.
Over 54,000 public sector employees opted for voluntary retirement scheme in 2001-02, Rajya Sabha was informed on Monday.
Hindustan Petroleum Corporation has proposed to shed about 11 per cent of its workforce by offering the surplus staff a VRS, the Rajya Sabha was informed on Tuesday.
Over 1,000 employees of Air-India are expected to avail of the voluntary retirement scheme, for which the airline would have to bear financial burden of about Rs 57 crore.
The agency has moved with its charge sheet against Shukla after getting a go ahead from the government to prosecute the retired judge, they said.
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".
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.
National Textiles Corporation's bonds issue to mop up around Rs 500 crore (5 billion) will hit the market next week.
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.
Government on Tuesday approved the proposals of Oil and Natural Gas Corporation and Indian Oil Corporation to offer voluntary retirement to their surplus staff.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
'The announcement has come too late. This should have been done years ago.'
An administrative enquiry is under way to find out why United Bank's non-performing assets had been under-reported.
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.
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