Honda Motorcycle and Scooter India (HMSI) has started a Voluntary retirement Scheme (VRS) for permanent employees in the midst of testing economic situations by Honda.
According to a notice rolled out, two-wheeler giant Honda Motorcycle and Scooter India (HMSI) has started a Voluntary retirement Scheme (VRS) for permanent employees in the midst of testing economic situations by Honda.
The VRS would run from January 5 till January 23 this year and cover permanent representatives except for top-level authorities, as per a correspondence sent by the board to the Manesar plant workers.
The permanent workers who have finished ten years with the firm as of January 31, 2021, or over 40 years old can pick the VRS. Chief position officials, notwithstanding, are not a part of the plan, according to the correspondence.
Who can benefit and how much?
- Director, Vice President, and permanent employees can get the most significant measure of ₹72 lakhs.
- Managers can avail ₹67 lakhs.
- Deputy manager can avail ₹48 lakhs.
- Assistant managers can avail ₹36 lakhs.
- Senior Executive can avail ₹31 lakhs.
- Executive can avail ₹27 lakhs.
- Assistant Executive can benefit ₹15 lakhs.
The firm is also offering ₹5 lakh extra for the initial 400 employees who pick the plan.
As shown by the correspondence sent off to workers at the Manesar office, the Indian automobile industry was going through testing times as deals have dropped because of COVID-19 and the economy’s resultant slump. The two-wheeler giant noticed that the administration is attempting to smooth out its tasks and production exercises in such extreme conditions.
It is significant for the firm to continue to be productive to remain competitive in the two-wheeler industry; the correspondence said.