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Monday, January 21, 2013

BSNL wants to offer voluntary retirement to 1 lakh employees

NEW DELHI: In order to bring down the salary burden, which constitutes about 48 per cent of its revenues, state-owned telecom company BSNL wants to let go one lakh employees by offering them voluntary retirement (VRS).

"If these people opt for voluntary retirement, the salary burden of the company will come down to 10-15 per cent, which is manageable," a top official of the company said. 
Source : The Economic Times, 21 Jan, 2013

1 comment:

  1. BSNL cannot help !

    It must get rid of 100,000 employees – and fast

    Here is why :

     It has a work-force of 281,000 employees as on 31 Mar 2011

     It had a profit of Rs 10,183 Crores in 2004-05

     Profit turned into a loss of Rs 6,384 Crores in 2010-11

     Its salary burden is 48 % of its revenue

     By getting rid of 1 lakh employees , salary burden will come down to 10-15 % of revenue

     The average age of employees is about 50 years

     This aging work-force don’t have the skill-set to compete with Airtel / RIL / Vodaphone / Idea etc

    All of this , notwithstanding Congress Jaipur Declaration , promising to create 10,000,000 ( 1 Crore ) jobs each year , starting 2015 ( provided people believe in such promises and vote UPA to power in 2014 ! )

    In the meantime , to survive , BSNL is selling real estate worth Rs 8,000 Crores

    Obviously to those who will contribute generously to Congress Party Funds , which , are currently around Rs 2,000 Crores


    Payments in cash welcome from Individuals and Corporate if in sums of less than Rs 20,000 / - not requiring verification !

    With regards

    Hemen Parekh

    Jobs for All = Peace on Earth