DoT tells BSNL to prepare VRS plan
http://www.bsnlnewsbyashokhindocha.blogspot.com/ M-094262 54999
The department of telecommunications (DoT) has directed state-owned Bharat Sanchar Nigam Ltd to prepare a voluntary retirement scheme (VRS) for 50,000 of the latter’s employees.
The move will require a one-time payment of Rs 4,000-5,000 crore, for which DoT would give financial support, a senior official from the latter told Business Standard.
- DoT panel backs 30% limit on merged entity's market share
- Additional spectrum to mop up Rs 80K cr
- DoT readies big-ticket changes in telecom policy
- The top 10 business bestsellers
- New headache for security agencies 'TigerText' on mobiles
- Bio-coal makers plead for state hand to expand
- Markets have a drab closing
- India, Japan buy extra Saudi oil in July
- Sebi urges MFs to boost presence in pension funds
- Ford selects Gujarat land for 2nd manufacturing plant
- NSN overtakes Ericsson in India revenue: survey
This is part of the government’s measures to get loss-making BSNL back on the rails. The latter has 280,000 employees, far higher than the industry standard. Last month, Union communications minister Kapil Sibal had said the government would turn around BSNL in the next six months.
About 50,000 of BSNL employees are expected to retire in the normal course in the next four to five years, the official said.
When asked, BSNL chairman and managing director R K Upadhyay said, “The Board for Reconstruction of Public Sector Enterprises had recommended we give VRS to our employees. The exercise is still on and we have not taken any decision on it yet.”
The need to reduce the workforce was earlier suggested by Sam Pitroda, advisor to the Prime Minister on infrastructure. He wanted BSNL to reduce its employee base by about 100,000.
DoT had earlier directed both BSNL and its sister concern, Mahanagar Telephone Nigam Ltd, to work on reducing staff. MTNL, which offers telecom services in Delhi and Mumbai, has asked DoT to clear a VRS to be offered to 15,000 employees in the current financial year, a third of its workforce. The proposal has already been cleared by the MTNL board. It has asked DoT to help with Rs 2,000-3,000 crore for this scheme.
However, any proposal for reducing workforce has been met with strong opposition from the staff unions. Even schemes for a VRS have been opposed.
For the first time since inception in 2000, BSNL had posted a loss, of Rs 1,823 crore in 2009-10. It is expected to post one of Rs 2,500 crore for 2010-11.
- Markets have a drab closing
- India, Japan buy extra Saudi oil in July
- Sebi urges MFs to boost presence in pension funds
- Ford selects Gujarat land for 2nd manufacturing plant
- NSN overtakes Ericsson in India revenue: survey
Tags : DoT
Bharat Sanchar Nigam Ltd
Kapil Sibal
R K Upadhyay
MTNL
http://www.bsnlnewsbyashokhindocha.blogspot.com/ M-094262 54999
Read Business news in
Advertisements
Choose your pattern and welcome guests with beautiful pathways....
Sightflying. Now fly to Europe at affordable fares.
Choose your markets: Commodities,equities & Currencies...
A Perfect Blend of Luxury and Performance.
Shortcut to CIMA for ICWAI members/finalists.
Enhance business productivity with cutting-edge technologies....
CFA Institute, Enroll Before 24th August.
Now flying to Los Angeles from 1st July 2011. Know more
Advanced Diploma in Software Development. Click here
To us your health comes first. Know More.
Internet on 3G wherever you are. Click here
Learn how you can do more work in less time
347 acres of ultra-luxurious living in Noida. Click here.
Buy and sell shares online with AxisDirect.Trade Now!
Gold Card is complimentary for the first year. Click here
Building the engines of a smarter planet...
Where the road ends, the red carpet begins.
Steel lending Strength to the nations's defence. Click here
Giftwithlove.com: Anniversary/ B'day/ Midnight Flowers & cakes delivery in India
Share this Story
Print this Email this Add to favorites Twitter Google Buzz
del.icio.us digg newsVine Reddit Facebook
orkut
Subscribe to:
Post Comments (Atom)
.JPG)
0 comments:
Post a Comment