Andhra Pradesh: 1200 Opt for Steel Plant VRS-2
In the first phase, 1,600 employees had opted for VRS which was launched in January this year. Out of them, 660 are said to be executives and 940 non-executives.
Visakhapatnam: A total of 1,200 employees (both executive and non-executive) of the Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant (VSP), have applied for the Voluntary Retirement Scheme (VRS) phase two offered by the management as per the ministry of steel guidelines. The scheme was launched on June 15 and closed on July 16.
According to CITU leader Ayodhya Ramu, the management has rejected 170 applications and scrutinised the remaining applications. He said those executives and non-executives who had performed well during the last three years would be rejected.
According to him, the present strength of permanent employees stood at 10,070 and the contract employees 8,075.
He said the remaining employees would have a tough time as all the three blast furnaces were running in full steam.
In the first phase, 1,600 employees had opted for VRS which was launched in January this year. Out of them, 660 are said to be executives and 940 non-executives.
As per the guidelines, 4,000 of the 12,300 employees are eligible for VRS. An employee who is 45 years of age is eligible.
The number of employees who had opted in both the phases of VRS was significant after the Union government announced a financial package worth Rs 11,442 crore.
Sources said around Rs 506 crore is said to have been allocated for the VRS applicants for the first phase. Sources said 1,200 were sanctioned the VRS.
Ramu said around 7,000 employees left the RINL after the Central government announced the disinvestment notification in January 2021. Around that time, the steel plant had a turnover of Rs 28,000 crore and an operating profit of Rs 940 crore.
