In yet another attempt to merge with GlaxoSmithKline Pharmaceuticals in India, Burroughs Wellcome has announced a VRS for the 510-strong workforce at its Mulund plant in the city.
The company has informed the Bombay Stock Exchange about the VRS. The scheme opened yesterday and will close on July 8, 2003. The company has announced an incentive of Rs 1 lakh for employees who avail of the scheme by July 1.
Although globally, GlaxoSmithKline Pharmaceuticals and Burroughs Wellcome have merged, the Indian merger has been held up due to staunch opposition by employees of the Mulund plant.
The employees have been refusing to fall in line with the merger plans, as they would have to accept a cut in salaries. GlaxoSmithKline salary scales are lower than those prevailing in Burroughs Wellcome.
