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SAIL implements Voluntary Retirement Scheme at its plants

04 Aug 2016 Evaluate

Steel Authority of India (SAIL) has implemented Voluntary Retirement Scheme (VRS) during the period from May 01, 2016 to June 30, 2016 at all its Plants/Units. This step has been taken for enhancing productivity, improving manpower profile, rationalization of manpower and optimization of manpower cost.

Voluntary Retirement of total 1,038 number of employees has been approved under this scheme. The one time financial implication for the scheme works out to Rs 213 crore (VR Compensation), with envisaged savings of Rs 103.80 crore per annum.

SAIL is India’s largest steel producing company. The company is among the five Maharatnas of the country’s Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.



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