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HPCL planning to shed 11% of its workforce
New Delhi, Apr 22: Privatisation bound Hindustan Petroleum Corporation Ltd (HPCL) has proposed to shed about 11 per cent of its workforce by offering the surplus staff a VRS scheme, the Rajya Sabha was informed on Tuesday.
New Delhi, Apr 22: Privatisation bound Hindustan Petroleum Corporation Ltd (HPCL) has proposed to shed about 11 per cent of its workforce by offering the surplus staff a VRS scheme, the Rajya Sabha was informed on Tuesday.
"A proposal to introduce Voluntary Retirement Scheme (VRS) in HPCL has been submitted to the government by HPCL," Minister of State for Petroleum and Natural Gas, Santosh Kumar Gangwar said in a written reply to the Upper House of Parliament here.
Under the scheme, the surplus employees identified by HPCL are about 1,000 in non-management category and 250 in management category (about 11 per cent of workforce).
The estimated expenditure to be incurred on the VRS has been indicated at about Rs 260 crore, he added.
Global oil majors including Royal/Dutch Shell, BP Amoco, Petronas of Malaysia, Saudi Aramco, Reliance Industries and Essar are among the eight firms in fray for acquiring 34.01 per cent government stake in India's second largest oil firm.
Bureau Report
Under the scheme, the surplus employees identified by HPCL are about 1,000 in non-management category and 250 in management category (about 11 per cent of workforce).
The estimated expenditure to be incurred on the VRS has been indicated at about Rs 260 crore, he added.
Global oil majors including Royal/Dutch Shell, BP Amoco, Petronas of Malaysia, Saudi Aramco, Reliance Industries and Essar are among the eight firms in fray for acquiring 34.01 per cent government stake in India's second largest oil firm.
Bureau Report