Hindustan Motors' VRS scheme gets modest response

The VRS scheme floated by C K Birla Group's closed company Hindustan Motors (HM) evoked a modest response from employees as only 925 out of the 2,300 employees at the Uttarpara may avail of the option.
A total of 925 employees had collected the forms till today, the last day for collection, a spokesman of HM told PTI, adding that the last date of submission is November 25.
On November 9, 2014, the company had announced a VRS for all its employees at the Uttarpara plant.
"This step is in line with the restructuring that was announced earlier by the company for the Uttarpara unit", the spokesman said.

The scheme offered to the employees entailed payment of all statutory dues to the employees along with an additional Rs 1 lakh to each of them.
The Uttarpara plant was put under suspension of work from May 24, 2014, citing severe financial crisis arising out of extremely poor sales of the iconic Ambassador cars, whose production was stopped.