VRS offered by companies to pick up further: Experts
Faced with rapid fluctuations in business cycle and looking to optimise costs, Indian companies are likely to press further with the Voluntary Retirement Schemes in the coming quarters, say experts. The implementation of VRS has been most noticed among the electronics, drugs and pharmaceuticals, pesticides and chemicals as well steel and textiles industry, according to research by MANCER Consulting. The VRS has been mostly offered to cut costs in wake of economic slowdown, the experts said. Over the last few months, Ashokleyland, Nokia, Tata Motors are among the firms that have offered VRS to its employees.
Read the Economic Times news report here.