29-November-2020
Corporate News
 
Ashok Leyland launches VRS for executive cadre; 5,700 employees eligible
21-Nov-2020

In an attempt at pruning its workforce, Ashok Leyland (ALL) on Friday announced a voluntary retirement scheme (VRS) for its executive cadre, making 5,700 eligible to opt for the plan. Executives who have completed as little as one year can opt for the VRS. NV Balachandar, president, HR, CSR and communication, ALL, told FE the objective of the VRS is to scale down the team, bring in efficiency and ensure executives do more value-added work. “This time we have kept it eligible for all executive employees who have completed at least a year of service. Normally, we look at high-tenured employees, but this time we have spread it across, so that even people who have completed few years of service can avail the VRS,” he said.

News Source:- https://www.financialexpress.com/industry/ashok-leyland-launches-vrs-for-executive-cadre-5700-employees-eligible/2133130/