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Varroc Engineering's VRS: 411 Workers Take Early Retirement
16 Jan
Summary
- Varroc Engineering initiated a voluntary retirement scheme for its permanent workers.
- Over 400 applications were received, with 411 accepted by the company.
- The total payout for the scheme is approximately Rs 79.94 crore.
Varroc Engineering has implemented a Voluntary Retirement Scheme (VRS) across various facilities, designed to be mutually beneficial for the company and its employees. The scheme has garnered substantial interest from permanent workmen, resulting in 432 applications submitted for early retirement.
Out of the submitted applications, Varroc Engineering has accepted 411. This decision reflects the company's strategy to optimize its workforce. The financial commitment associated with this VRS initiative is considerable, with an estimated total pay-out of Rs 79.94 crore.
The introduction of this scheme is expected to streamline operations and potentially lead to structural adjustments within the company's workforce. The successful implementation underscores a proactive approach by Varroc Engineering in managing its human resources.
