Monday, January 29, 2001
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Maruti plans VRS scheme 

 
New Delhi, Jan 28 : Barely a fortnight after resolving the three-month labour unrest, Maruti Udyog is believed to be preparing a `golden handshake' scheme to trim the workforce and enhance profitability.

A preliminary voluntary retirement scheme (VRS) has been prepared for both the shop floor (factory) and office workers, company officials said on condition of anonymity. The proposal for trimming the workforce assumes importance in the wake of Maruti making losses so far during the current fiscal.

The company management had earlier cited difficult financial conditions, as a major reason to block an incentive scheme, which resulted in an over three month long strike by the employees union. "However, the proposed scheme is yet to be placed before the board of directors. A clear picture will emerge only after it is considered by the board", they said.

Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.

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