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Our Bureau

Mumbai , Dec. 3

Videsh Sanchar Nigam Ltd (VSNL) has introduced a voluntary retirement scheme for its non-executive employees, and a voluntary separation scheme for its executive employees. The schemes opened on November 29 and will close on December 20. The objective of the scheme is to rationalise manpower in line with the current business scenario and provide financial support to employees who are willing to explore other avenues after separation, said a statement from the company to the stock exchanges."

The VRS is directed at those employees whose skill sets are not aligned to changing technological trends and will enable the company to meet a highly competitive global\local business environment by right sizing," said a senior official with VSNL.

The scheme is available to those who have attained either 40 years of age or have put in over 10 years of service as on December 20; for executives it is available to those who are 40 years of age and have put in over 10 years of service as on the same date. The company expects that around 20-25 per cent of its 4,000 employees will respond to the VRS, said another company official.

More Stories on : Telecommunications | Manpower | Videsh Sanchar Nigam Ltd

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