VSNL introduces VRS-2006 for Non-Executives & VSS-2006 for Executives

Videsh Sanchar Nigam Ltd (VSNL) has announced that the Company introduces Voluntary Retirement Scheme - 2006 (VRS - 2006) for Non-Executives and Voluntary Separation Scheme - 2006 (VSS-2006) for Executives of the Company.

1. VRS 2006 would be available to those non-executives who have attained either 40 years of age OR put in over 10 years of service as on December 20, 2006. VSS 2006 would be available to those executives in Grades E1 to E8 who have attained 40 years of age AND put in over 10 years of service as on December 20, 2006.

2. The objective of the scheme is to rationalise manpower in line with current business scenario and provide financial support to employees who are willing to explore other avenues after separation.

3. Both the schemes will be open during the period November 29, 2006 till December 20, 2006.

Source : Equity Bulls

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