BSNL VRS Plan: More than half of employees have opted for early retirement
More than half of the employees working in the the Public Sector undertaking (PSU) Bharat Sanchar Nigam Limited (BSNL) has applied for early retirement scheme. This has revealed by a top official.
Around 77,000 employees of state-owned telecom service provider have opted for the recently launched Voluntary Retirement Scheme.
Nearly one lakh BSNL employees are eligible for the Voluntary Retirement Scheme (VRS) out of its total staff strength of about 1.50 lakh. The effective date of voluntary retirement under the present scheme is January 31, 2020.
The 'BSNL Voluntary Retirement Scheme - 2019', that was launched out recently, will remain open till December 3. BSNL is looking at savings of about Rs 7,000 crore in wage bill, if 70,000-80,000 personnel opt for the scheme.
The Union Cabinet had last month approved a plan to combine MTNL - which provides services in Mumbai and New Delhi - with BSNL that services the rest of the nation.
MTNL has reported losses in nine of the past 10 years and BSNL too has been ringing in loss since 2010. The total debt on both companies stood at Rs 40,000 crore, of which half of the liability is on MTNL alone.