Implemented during period of 01 May 2016 to 30 June 2016
Steel Authority of India announced that in line with the consistent efforts for enhancing productivity, improving manpower profile, rationalization of manpower and optimization of manpower cost, the Company implemented Voluntary Retirement Scheme during the period from 01 May 2016 to 30 June 2016 at all its Plants/Units. Voluntary Retirement of total 1038 nos. of employees has been approved under this Scheme. The one time financial implication for the Scheme works out to Rs. 213 crore (VR Compensation), with envisaged savings of Rs. 103.80 crore per annum.Powered by Capital Market - Live News