Over 13,500 employees working in the state-owned Mahanagar Telephone Nigam Ltd (MTNL) has opted for the Voluntary Retirement Scheme (VRS)launched by the company.
MTNL had initially expected the voluntary retirement scheme (VRS) optees to touch 13,500, but the numbers have already reached 13,532 employees. There is nearly two weeks left for closing date of the scheme.
“We have received a strong response; and so far, as many as 13,532 employees have opted for the VRS scheme. Our internal target had been 13,500,” MTNL Chairman and Managing Director Sunil Kumar informed .”We expect the numbers to reach the range of 14,500 to 15,000 by the closing date,” he said. Around 16,300 employees are eligible for the scheme.
In case of Bharat Sanchar Nigam Ltd (BSNL), as many as 77,000 employees of state-owned telecom corporation have opted for the recently launched VRS until now.
Mahanagar Telephone Nigam Ltd (MTNL) scheme, based on Gujarat Model of VRS, will be open for employees till December 3, 2019. It has said that “all regular and permanent employees of 50 years and above as on January 31, 2020” are eligible to opt for the scheme.
The Union Cabinet has approved the plan to merge MTNL – which provides services in Mumbai and New Delhi – with Bharat Sanchar Nigam Ltd (BSNL) that services the rest of the nation.
MTNL has reported losses in nine of the past 10 years and BSNL too has been reporting losses since 2010. The total debt on both the companies stood at Rs 40,000 crore, of which half of the liability is on MTNL alone.
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