Around 300 employees have opted for Tata Motors’ voluntary retirement scheme (VRS) introduced across its passenger and commercial vehicle divisions. The scheme was offered to permanent employees aged between 40 and 55 after discussions with worker unions.
Employees choosing the VRS were offered compensation based on age and years of service, along with medical and retirement-related benefits. Reports said around 750 employees were eligible for the programme.
The step comes as Tata Motors focuses on improving operational efficiency and expanding its electric vehicle business, where increased automation is gradually changing manufacturing requirements.