Wednesday, May 29, 2024

Voluntary Retirement Scheme Opted By Over 1,600 Air India Employees

By Vaibhav Agrawal

Under a scheme announced on June 1, more than 1,600 employees of Air India have opted for voluntary retirement. The company, which stands as the former state-run carrier, is now owned by the Tata group.

Earlier, those employees having 20 years of continuous employment and older than 55 could opt for a voluntary retirement scheme (VRS). However, these rules were relaxed in June, and the VRS opened for those older than 40 among cabin crew, clerical and unskilled categories, although pilots were excluded from the scheme.

An additional incentive of INR 1 lakh would be provided to those who have opted for VRS until June end, and the scheme will continue till July. The Tata group shall be appointing professional agencies to reskill the staff who opt for VRS, as said by a senior executive of Air India.

Employees opting for the VRS include security guards, cabin crew, clerical assistants, peons and housekeeping staff. Around 2,800 employees are eligible to take VRS, and those opting for it account for approximately 57%.

Air India is equipped with around 10,000 employees, and 7,000 among them are permanent, while over the next five years, thousands are said to be retiring.

The Tata Group would not be able to lay off employees for one year from taking ownership and can offer VRS in the second year, as per the disinvestment conditions. On the other hand, some unions have also been examining whether the current move violates the term of the sale or not.


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