Tata Motors offers VRS to executives in a bid to cut costs
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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.
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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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