Air India on Monday announced that it will extend the last date to apply for Voluntary Retirement Scheme (VRS) for its employees till the end of this month. The letter written by a top Air India official mentioned that all eligible employees can opt for the VRS scheme till May 31.
“This is with reference to the organizational announcement dated March 17, 2023 on the subject. In this connection, please note that the last date for applying for Voluntary Retirement as per the above organizational announcement for all eligible employees has been extended up to 31st May 2023. However, the date of acceptance and release of applications will continue. Subject to the discretion of the management,” the letter noted
Earlier, Air India It offered voluntary retirement to its non-flying employees in March this year, the second such offer by the Tata group after taking control of the loss-making airline in January last year.
According to a communication, the latest offer was available to permanent general cadre officers who have attained the age of 40 years or more and have completed a minimum of five years of continuous service in the airline.
Also, clerical and unskilled category employees who have completed minimum five years of continuous service will be eligible.
A total of around 2,100 employees will be eligible to avail the benefits of the latest voluntary retirement offer, sources said. Currently, the airline has a workforce of around 11,000 including flight and non-flying staff.
In June 2022, Air India introduced the first phase of the Voluntary Retirement Offer.
The employees have been requested to extend the additional benefit of voluntary retirement to other permanent employees also. In response to this, Air India is announcing the second phase of voluntary retirement offer, the airline’s chief human resource Suresh Dutt Tripathi said in a communication sent to employees on Friday.
The first phase of the voluntary retirement proposal covered both flying and non-flying staff. Sources said around 4,200 employees were eligible at that time and around 1,500 of them opted for the offer.
In September last year, Air India announced the transformation plan Vihaan.AI, which focuses on various goals to be achieved over a period of five years.
The objective of the plan is to put Air India on a path of sustained growth, profitability and market leadership.
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.