Tata Motors offers VRS to executives in a bid to cut costs
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Also read: Chandrasekaran moving out of TCS may be alarming for most profitable IT company
Tata Motors is shrinking its management from 14 levels to five starting next month, and the VRS scheme is targeted at 400-500 executives, making it the biggest workforce change in the history of the company.
Also read: India is becoming a hot auto market; Toyota, Volkswagen, Hyundai, etc are looking to zoom operations
India’s largest automaker in terms of revenues aims to reduce costs and streamline its operations after suffering ample losses at its local unit.
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Other than employee rationalisation via VRS, it also plans to shift some middle-level executives to new job responsibilities in global development centre (GDC) in Pune, under finance and data analytics.
(Image source: GG2)
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