In a bid to align costs to decline in activity levels, commercial vehicle giant Ashok Leyland has announced a voluntary retirement scheme (VRS) for all categories of its executives.
Chennai-headquartered Ashok Leyland, which has more than 5,000 executives on its payrolls, said that the proposed VRS was applicable to all categories of executives. The company also claimed that any employee who opts for the scheme would be given adequate compensation package.
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