CHENNAI: Five hundred employees of truck maker Ashok Leyland opted for the voluntary retirement scheme (VRS) that the company offered last month in order to cut costs. The terms of the severance package is not known yet.
"Roughly 500 executives were offered VRS on November 30, which is about 10% of the executives," Vinod Dasari, managing director of Ashok Leyland said.
In this context, the company has shuffled employees, moving 50 workers from the manufacturing team to the sales department and plans to move about 200-300 more, Dasari said. "But this is not a permanent move," he added.