News: 100% acceptance of VSS by employees: General Motors India

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100% acceptance of VSS by employees: General Motors India

With the one-month deadline closing on 15th June, General Motors India says that all employees have availed the Voluntary Separation Scheme.
100% acceptance of VSS by employees: General Motors India

General Motors has said that nearly 100% of the employees offered Voluntary Separation Service (VSS) have accepted the same, according to a news report. The company said almost all the 400 employees have availed the scheme within the deadline. 

A majority of the employees are said to be from marketing, sales, finance and administration departments.

"We are pleased to share that we have received 100 percent acceptance from our employees who were offered separation packages, as a result of restructuring efforts to cease domestic sales and focus on exports," a General Motors India spokesperson has been quoted in the report. The exact number was said to be “around 400”.

The spokesperson also added that General Motors is supporting all its employees in this transition, and providing career counseling, financial advice, outplacement support and flexibility to explore other job opportunities. 

As reported earlier, General Motors India had decided to halt operations, and offered its employees VSS. The offer on the table was “45 days salary for every year of completed year of service or part thereof in excess of six months” in normal cases, and “monthly salary multiplied by the remaining months of service till the normal age of retirement” to those nearing retirement. The minimum compensation payable eligible was three months salary.

Emails regarding the scheme were sent to all employees on 19th May, the day after General Motors announced their decision to wind up Indian operations, and the scheme was open till 15th June. The organization is now expected to focus on the export of vehicles from its manufacturing plant in Talegaon, Maharashtra. 

Topics: #Jobs, #ChangeManagement, C-Suite, Employee Relations

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