Financial Daily from THE HINDU group of publications
Sunday, Aug 18, 2002
Financial Daily from THE HINDU group of publications Sunday, Aug 18, 2002 |
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Corporate
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Manpower Keltron implements second round of VRS Vinson Kurian
THIRUVANANTHAPURAM, Aug. 17 KERALA State Electronics Development Corporation (Keltron) is implementing the second round of a voluntary retirement programme under which 79 employees from various units and branch offices are expected to sign off from the company's services. Mr Ajaya Kumar, Managing Director, told Business Line that the company would need Rs 2.25 crore to finance the exercise and the entire requirement was being sourced from its internal accruals. "This time round, we would not need to approach the Government for funds and we are confident that all formalities relating to pay-outs to the optees would be completed strictly within the stipulated 90-day period'', he said. The first round of VRS implemented during last year had run into trouble with the State Industries Department not being able to mobilise the required funds in good time. The company had then offered the VRS option to 625 employees at a cost of Rs 26 crore. The optees in the second round are mainly drawn from the Switching Equipment Unit at Manvila near here (22 nos) and the Transmission Equipment Unit at Moodadi, Kozhikode (32). The rest belong to the branch offices in New Delhi, Kolkata and Hyderabad. The VRS programme had been charted out as part of the larger company-wide exercise to restructure manpower resources, Mr Ajaya Kumar said. Asked about the timing of the next possible round, if any, he said Keltron could do with another one or might be even more, but the decision must come from the individual units, which feel the need to optimise their human resources.
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