Tata Motors floats VRS scheme to rein in fixed costs; its third in 4 years

Tata Motors has floated a voluntary retirement scheme in its bid to rein in fixed costs and implement the turnaround plans effectively, according to people aware of the development. This is the third time in four years that the Tata group flagship is floating a VRS.

The scheme announced on Friday is applicable to all the permanent employees and those employed at the plants, as per a communiqué reviewed by Business Standard.  

“Tata Motors continues to implement its turnaround plans effectively. Towards this, we are also reviewing cost structures proactively while ensuring that our commitment towards employee welfare and well being remains