Apprehensions loom over the closure of Britannia Industries' factory in Kolkata as the company offers a voluntary retirement scheme (VRS) to all its permanent staff. The lucrative VRS offer includes a one-time separation compensation ranging from Rs 13 lakh to Rs 22 lakh, in addition to other benefits. The management has notified relevant stock exchanges about the VRS scheme, while the fate of 250 contractual staff and the factory's future remains unknown.
Britannia Industries Kolkata: Closure Looms over Taratala Factory
Background
Britannia Industries Limited is one of India's leading food companies, headquartered in Kolkata. The company operates several manufacturing facilities across the country, including one in Taratala, Kolkata. The Taratala factory has been in operation for over six decades and employs nearly 1,000 permanent and contractual workers.
Recent Developments
In a recent move, Britannia Industries has announced a Voluntary Retirement Scheme (VRS) for all permanent employees at its Taratala factory. The VRS scheme offers a lucrative separation compensation ranging from Rs 13 lakh to Rs 22 lakh, along with other benefits. The management has notified relevant stock exchanges about the scheme.
Apprehensions and Uncertainties
The announcement of the VRS scheme has raised concerns among employees and unions. There are apprehensions that the factory may be closed down if a significant number of workers opt for the scheme. The fate of the approximately 250 contractual staff employed at the factory is also uncertain.
Future of the Factory
The management of Britannia Industries has not yet made any official announcement regarding the future of the Taratala factory. However, sources suggest that the company may consider closing the factory if a majority of permanent employees opt for the VRS scheme. The closure of the factory would have a significant impact on the local economy and the livelihood of the workers.
Top 5 FAQs and Answers
Q1: Why is Britannia Industries offering a VRS scheme at its Taratala factory? A1: The company has not provided any specific reasons for the VRS scheme. However, some analysts suggest that it may be part of a cost-cutting measure or a move to consolidate operations.
Q2: What is the eligibility criteria for the VRS scheme? A2: All permanent employees of the Taratala factory who have completed at least 10 years of service are eligible for the scheme.
Q3: What is the amount of separation compensation under the VRS scheme? A3: The separation compensation ranges from Rs 13 lakh to Rs 22 lakh, depending on the employee's years of service and designation.
Q4: What will happen to the contractual staff at the Taratala factory? A4: The fate of the contractual staff is currently unknown. However, it is likely that their employment will be terminated if the factory is closed.
Q5: What is the likely impact of the factory closure on the local economy? A5: The closure of the factory would result in job losses for nearly 1,000 workers, affecting their families and the local economy. It would also reduce the supply of Britannia products in the Kolkata region.
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