VRS Package

The VRS scheme is for permanent ground staff and excludes pilots, cabin crew, licensed role holders, and employees retiring by 31st March 2025

GlaxoSmithKline Pharmaceuticals on Thursday said its board has approved a Voluntary Retirement Scheme (VRS) for a certain segment of employees under a strategic review of the business. In a regulatory filing, the drug firm said its board has approved a commercial transformation initiative as part of a strategic review of the business. "As part of the transformation and to continue to remain competitive, the company will explore new innovative solutions, including omnichannel strategy, to expand its reach and coverage to the target segments," the drug firm said. Further, the company has launched a voluntary retirement scheme for commercial function employees in field sales and head office. The initiative includes provisions for financial and transition support. The financial impact will be communicated separately, GlaxoSmithKline Pharmaceuticals said.

The govt-owned telecom has been making losses for all but one of the past 14 years, and has run up a debt of a staggering Rs 23,500 crore

Air India extended a voluntary retirement offer for its non-flying staff till May 31. This is the third such offer by the group after it took control of the airline in January last year

Air India has given an option to the cabin crew who have opted for voluntary retirement scheme to extend their tenure until January 31 next year, amid shortage of cabin crew and long waiting period for US visas, according to sources. The Tata group-owned airline, which is being revived with expanding fleet and routes, offered Voluntary Retirement Scheme (VRS) to its employees, including the cabin crew, in June this year. The relieving date for those who opted for the VRS was fixed as November 30. The sources said around 4,500 employees had applied for the scheme. "The release date from the services of the company for VRS crew has been extended. Crew members may choose to extend their release date till January 31, 2023," the airline said in a communication on Saturday. A query sent to Air India seeking comments on the matter remained unanswered. According to the communication, the VRS scheme remains unchanged and the VRS benefit will be applicable to employees who are extending the

After three senior IAS officers of Uttar Pradesh cadre sought voluntary retirement from service (VRS) within one week, the bureaucracy is abuzz with speculation

Under the Air India's VRS rules, people older than 40 years of age with 20 years of continuous employment can opt for voluntary retirement

Airline says it will reskill employees as expands terms of the scheme

"The provision is made for capital infusion for 4G spectrum, technology up-gradation and restructuring in BSNL," the explanatory note in the document said

The company said the VRS is open for permanent eligible employees who have attained 40 years of age and have completed ten years of service.

VRS is not forced exit but option for those who would like to take early retirement

Scheme offered to the 40-plus or those with 10 years in the company

Employees above the age of 40 or who have completed 10 years in the company are eligible for the scheme

The scheme announced on Friday is applicable to all the permanent employees and those employed at the plants

The VRS will be implemented over a period of 9 months at the company offices/factory locations

The State Bank of India (SBI) said it proposes to recruit 14,000 employees during the current year and its 'on tap VRS' is not a cost-cutting exercise

Congress leader P Chidambaram on Monday slammed the reported SBI plan to implement a voluntary retirement scheme at a time when the economy has collapsed and called it cruel

Officers protest, say they were kept in dark; lenders say VRS is optional and that it won't push employees to take it

Older workers are headed for the VRS exit in larger-than-expected numbers even as unrest stirs over unrevised wage settlements

Older, inefficient employees may be pushed into early retirement