BSNL to cut 54,000 telecom jobs by offering VRS option

The ailing BSNL is aiming to cut 54,000 telecom jobs by offering voluntary retirement scheme (VRS) option to its employees.
BSNL gross revenue in 2018
The Department of Telecommunications (DoT) will move a Cabinet note in a few days on the voluntary retirement scheme (VRS) option for BSNL employees, The Hindu Business Line reported.

Some media reports indicated that BSNL board approved recommendations on reducing the retirement age of BSNL employees to 58 from the current 60.

BSNL’s VRS offer will lead to exit of around 54,000 employees, representing 30 percent of total strength.

BSNL’s VRS option will be available to employees who are above 50 years of age.

BSNL has 1.76 lakh employees, including both executive and non-executive, as of now.

According to industry sources, most of the employees at BSNL are going to retire by March 31, and the maximum of the current strength is also above 50 years of age.

The loss-making company had recently cleared the pending salaries for February to its 1.76 lakh employees.

The company also said it will aggressively focus on increasing its market share and revenue with attractive schemes.

BSNL reported a net loss of Rs 7,993 crore on services revenue of Rs 22,668 crore for 2017-18.