Hero MotoCorp launches VRS for staff

In keeping with the objective of building a robust organization in a rapidly evolving dynamic environment while retaining employee welfare at its core, Hero MotoCorp Ltd, the world's largest manufacturer of motorcycles and scooters, today launched a voluntary retirement scheme (VRS) for its staff.

The VRS has been designed in line with the vision to make the organization agile and 'future-ready', consolidating roles and reducing layers to increase empowerment and agility. We expect this to improve efficiency within the Company through a lean and more productive organization.

Applicable to all staff members, the VRS offers a generous package that includes - among other benefits - a one-time lump-sum amount, variable pay, gifts, medical coverage, retention of company car, relocation assistance, career support etc.

The general consumer sentiment is improving, as reflected in the sales performance in the month of March. The constructive policies of the government and the social sector reforms have given a further boost to the demand scenario and the two-wheeler industry expects these factors to contribute towards a double-digit growth in this financial year.

Shares of Hero MotoCorp Limited was last trading in BSE at Rs. 2431.90 as compared to the previous close of Rs. 2432.55. The total number of shares traded during the day was 9923 in over 1625 trades.

The stock hit an intraday high of Rs. 2440.80 and intraday low of 2419.40. The net turnover during the day was Rs. 24096621.00.

Source : Equity Bulls

Keywords

HeroMotoCorp INE158A01026 VoluntaryRetirementScheme Staff VRS