TVS COS OPT FOR VRS TO CUT STRENGTH

Article Abstract:

Major companies belonging to the TVS group plan to reduce their workforce through voluntary retirement schemes (VRS). This is attributed to recession in the heavy and light commercial vehicle sector. The VRS provides tax benefits to the company and will help it reduce costs. Lucas TVS, a TVS group company has offered VRS to 125 employees with compensation ranging from Rs2.5-3 lakh per employee. It has incurred an expenditure of Rs4-5 crore on VRS. Sundaram Clayton Ltd of the TVS group which has a staff strength of 900 plans to offer VRS to its workers. (rk)

Motor Vehicle Parts, Motor Vehicle Parts Manufacturing, Automotive parts, TVS group

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ALL IS BACK ON WHEELS, RESTORES FIVE DAYS OF WORK

Article Abstract:

Ashok Leyland Ltd (ALL) has gone back to the 5-day work-week at its Ennore plant in Chennai. This plant has 6,800 employees. It had increased the lay-off from 2 days to 3 days from September 1, 1998. It has reduced the inventories from 5,000 vehicles to 5-6 days' production. It expects higher sales of commercial vehicles during January-March 1999. (rk/kvr)

Motor Vehicles, Automobile and Light Duty Motor Vehicle Manufacturing, Ashok Leyland Ltd.

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