The Hindu Business Line : Bajaj offers VRS to Akurdi plant workers

Bajaj Auto Ltd has offered a separation package of Rs 5.75 lakh lump sum and a monthly payment of Rs 10,000 for 120 months as part of a voluntary retirement scheme for its workers at the Akurdi plant in Pune, according to reliable workers’ union sources.

The company is expected to make an announcement in a day or two. According to the sources, the company has said that the scheme will be effective only if 1,100 of the 2,700 workers at the Akurdi plant opt for the scheme. If that happens, the remaining workers will get a hike of Rs 2,000-2,500 a month. The company has indicated that the agreement will be valid for a year, according to the sources.

Production at the Akurdi plant was stopped on September 1, 2007 and the workers were told that they need not report for work and that they would be paid their salaries.

According to Bajaj Auto’s 2007-08 annual report, the main reason for shutting down the Akurdi plant was the higher cost of manufacturing, which placed this location in a “significantly disadvantageous position compared to the other facilities of the company.”

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