Maruti Udyog to downsize
By Our Corporate Bureau | 20 Sep 2003
New Delhi: Maruti Udyog, now under the full control of Suzuki Motor Corporation, has decided to downsize its workforce. The company's board approved a voluntary retirement scheme (VRS) for its employees.
According to Maruti, the focus is on improving its market competitiveness. The company has 4,596 employees. This is after 1,050 employees who accepted VRS in 2001.
The VRS will be in two phases during the current financial year (2003-04) and will be available to permanent employees at all levels in the company. The company hopes to recoup the outgo in two years time in savings.