Toyota Kirloskar Motor initiates VRS for employees at Karnataka unit

Employees opting to apply for the scheme will receive a compensation package in addition to normal retirement benefits

Toyota Kirloskar Motor (TKM) has initiated a voluntary retirement scheme for the employees of its manufacturing facility in Bidadi, Karnataka. The firm has commenced the scheme for its unionised employees and supervisory category with a minimum of five years of service at the plant.

Nava-Jeevana Yojane, a voluntary depersonalisation scheme, commenced from September 22, is scheduled to run till October 23.

TKM Vice-Chairman Shekar Viswanathan said the scheme was purely voluntary and has no relation to TKM's business situation. “The scheme is launched in order to support the employees to ensure career change with financial security and to achieve 

their aspirational goals or