Joshi's decision to step down comes a couple of days after Home Secretary L C Goyal sought early retirement, 17 months before his term was to lapse
The VRS notice was pasted on the gates of the company's Uttarpara unit by the management, which said all workers would be paid their statutory dues plus and additional amount of Rs 100,000 each.
In 2015, the auto major had announced that it would cease production at the plant, a move that affected around 1,100 employees.
The ISRO spy case is dead. And yet, not dead.
he company said that though Katama has decided to quit, he would play a consulting role for a 'fixed' period.
Banks are also weighing the option of hiring experts for help in specialised areas.
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.
Trouble began at the manufacturing facilities of Foxconn situated at Sriperumbudur near Chennai after it decided to suspend production from December 22, 2014. Fearing job losses the employees have been resorting to agitations since then.
Union Commerce Minister Nirmala Sitharaman said she will pursue the matter with the finance ministry
Nokia shut down has also resulted in the loss of job for over 12,000, who were indirectly employed by the company.
The government last month had approved a plum Rs 69,000 crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetising their assets and offering VRS to employees so that the combined entity turns profitable in two years.
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The Chennai plant may be excluded from software giant Microsoft's acquisition of Nokia's handset business for 5.4 billion euros due to tax issues.
She has sought a high-level inquiry into his disappearance as well as the recent rejection of his plea for voluntary retirement.
The Department of Heavy Industry has been undertaking appraisals of each loss making CPSE to assess the prospects of revival.
The asset manager is yet to resolve the impasse surrounding the payment of pension to its erstwhile employees who had opted for voluntary retirement in 2003.
Last week, Nokia offered financial help to employees who wished to explore opportunities elsewhere
Union sources claimed production at the Chennai plant, considered one of the biggest for Nokia, had declined from 13 million handsets per month to four million per month.
Older workers are headed for the VRS exit in larger-than-expected numbers even as unrest stirs over unrevised wage settlements.
About 900 employees would lose their jobs following the suspension of operations at the plant.
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".
Industries Minister P Thangamani told the assembly. He was responding to a query by A Sounderrajan of CPI-M.
The company will offer a total of up to 15,06,44,759 ordinary shares
From a 15-16-level hierarchy, the organisation is moving to a flat five-level hierarchy.
Yadav's family had expressed desire to meet the DG following which the meeting was arranged.
While Vedanta Aluminium, Balco and Cairn India confirmed the job cuts, sources said Sesa Goa too had slashed jobs.
Nokia said that it will be informing all stakeholders including the Labour Commissioner of the suspension.
The VRS has been mostly offered to cut costs in wake of economic slowdown, the experts said.
HMT Watches has been making losses for the last 15 years.
SBI might present the first result for the combined entity at the end of the first quarter of 2017-18
Company is among the few companies in the sector getting pulled up by FDA for violations at its factories in India.
'BSNL employee cost is Rs 14,500 crore and we anticipate that around 80,000 should opt for VRS.'
Another reason working in Air India's favour now is the government's plan to clean up part of the airline's burgeoning debt from its books - a major deterrent for investors when it attempted divestment the previous time.
This is the second deal between Peugeot and the C K Birla group. Last month, the two groups entered a "long-term" partnership, with an initial investment in capital expenditure of close to Rs 700 crore, for vehicle and power-train manufacturing in Tamil Nadu.
The list is of companies declared sick as on March 31, 2014.
People who are close to retirement and don't intend to go back to full-time work again should deploy a part of their VRS money in equities so that it keeps growing at a faster rate.
Hundreds of army veterans held a 'Sainik Ekta' rally to press for "honest and truthful justice" as they rejected the One Rank One Pension scheme announced by the government even as some ex-servicemen groups dissociated themselves from the demonstration.
If the government is asking a maximum price for Air India but asks to keep old personnel, it will not match.
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.
No one is indispensable, says Lakshmi Murthy, chief people officer, ITM Group of Institutions.
Manufacture will soon be stopped at Bangalore and Tumkur in Karnataka and Ranibagh in Uttarakhand.
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