Financial Daily from THE HINDU group of publications
Monday, Jul 18, 2005
Financial Daily from THE HINDU group of publications Monday, Jul 18, 2005 |
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Personal Products Corporate - Manpower Poor response to HLL's VRS offer Our Bureau
Mumbai , July 17 WORKERS of Hindustan Lever Ltd (HLL) think that having a regular job is better than a VRS package of Rs 30 lakh. Hardly 100 workers out of 1,000 at its Sewri plant in Mumbai have opted for the VRS offered prior to the plant being sold to a company's subsidiary. According to HLL, while the average amount worked out to Rs 15 lakh per worker, in one of the option under the VRS, the company had offered to pay present salary and allowance up to retirement, which (including statutory dues) would have worked out to Rs 30 lakh. This was subsequently raised by another Rs 75,000, the company said. But majority of the workers preferred to work in the subsidiary company rather than take a VRS. The Sewri plant has been transferred to Bon Ltd, a subsidiary of HLL, with effect from July 17, the company said in a release on Sunday.
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