Tata-owned Air India has launched a Voluntary Retirement Scheme (VRS) for its employees- in the airline’s first drive to reduce headcount. The salt-to-steel conglomerate acquired the carrier last year.
As of November 2019, the airline had 9,426 permanent employees.
According to the VRS memo reviewed by Business Standard, permanent employees above 55 years of age or those who have completed 20 years of service can opt for the VRS package.
But for cabin crew, clerical and unskilled workforce, those aged 40 can also apply. Employees opting for VRS will receive an additional incentive over the ex-gratia amount, the memo said.
