VRS Offer Extended By Air India for Non-Flying Staff Till May 31
May 10, 2023: Air India, the national carrier of India, has extended its voluntary retirement scheme (VRS) offer for non-flying staff till May 31.
The move comes as the airline aims to cut costs and reduce its workforce in the face of mounting financial pressures.
According to sources, the VRS offer is open to all permanent employees of Air India who are not involved in flight operations.
This includes employees from departments such as marketing, sales, engineering, and ground handling.
The offer is aimed at those employees who are willing to retire voluntarily, and who have completed at least 15 years of service with the airline.
In a statement, Air India said that the decision to extend the VRS offer was taken after considering the overwhelming response from employees who had expressed their interest in availing the scheme.
The airline also clarified that the scheme was completely voluntary, and that employees who did not wish to avail it would not be forced to do so.
Air India has been struggling with financial difficulties for some time now. The airline’s losses have been mounting due to rising fuel costs, increasing competition, and a decline in demand for air travel due to the COVID-19 pandemic. The VRS offer is part of the airline’s efforts to cut costs and streamline its operations.
The VRS scheme offers employees a one-time lump sum payment, based on their years of service and other factors.
The amount of the payment is determined by a formula set by the government, which owns a majority stake in Air India.
The extended VRS offer is expected to help Air India reduce its workforce and lower its operating costs.
The airline has already implemented a number of cost-cutting measures, including reducing employee salaries and suspending some of its international flights.
Overall, the VRS scheme is seen as a positive step towards restructuring Air India’s operations and improving its financial health.
However, it remains to be seen how many employees will take up the offer, and how effective it will be in reducing the airline’s costs.
|Are you an
Entrepreneur or Startup?
Do you have a Success Story to Share?
SugerMint would like to share your success story.
We cover entrepreneur Stories, Startup News, Women entrepreneur stories, and Startup stories