New Delhi: Tata Motors will offer voluntary retirement scheme to trim costs as part of restructuring although the number of employees is still being worked out.
Reuters
Tata Motors confirms that as part of the on-going organisation effectiveness project, where we have already finalised the top two levels (L1-L2) of our management structure, a proposal on VRS package has been presented and approved by the board, a Tata Motors spokesperson said in an emailed statement.
While it has been speculated that the number of employees to be offered VRS could be around 500, the spokesperson declined to confirm saying it is still in discussion stage. Since the exercise for selecting L3-L5 (levels) is still underway, it is premature for us to comment on …
Read the full article at: http://www.firstpost.com/business/tata-motors-to-offer-vrs-to-reduce-costs-restructuring-likely-to-cut-500-jobs-3335010.html