Steel Authority of India (SAIL) has approved voluntary retirement of total 1,269 employees under VRS - 2007 scheme. The one time financial implication for the scheme works out to be around Rs 254 crore (VR Compensation), with envisaged savings of around Rs 127 crore per annum for separation of 1,269 employees through VRS - 2017.
Earlier, in line with the consistent efforts for enhancing productivity, improving manpower profile, rationalization of manpower and optimization of manpower cost, the board of directors in its 442nd meeting held on May 30, 2017 had approved Voluntary Retirement Scheme-2017 (VRS - 2017). The scheme was implemented during the period from June 15, 2017 to September 30, 2017 and extended up to November 30, 2017 at all its Plants/Units.
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.
| Company Name | CMP |
|---|---|
| Tata Steel | 212.05 |
| JSW Steel | 1239.90 |
| SAIL | 173.50 |
| Jindal Stainless | 787.90 |
| APL Apollo Tubes | 2105.45 |
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