The Hindu Business Line : Colour Chem offers VRS

COLOUR Chem Ltd has informed the BSE that the company is offering the voluntary retirement scheme to its employees at its Thane factory and the Head Office at Churchgate, Mumbai.

The scheme is intended to reduce overhead costs.

"The company faces stiff competition from the small-scale industries as well as cheaper imports,'' it said.

It is intended to prune the headcount of the employees at Thane site as well as the head office with a view to streamline the overall operations and to reduce overhead costs.

The scheme will be open from December 11 to December 31 for acceptance by the employees.

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