The Hindu offers VRS to its employees


All employees above 40 years of age and with over 10 years of service will be eligible for VRS.

The 136 year old English daily, The Hindu, has offered a voluntary retirement scheme to its employees. Kasturi & Sons Ltd. (KSL), publishers of The Hindu, announced the same on March 16, 2015.

The VRS scheme is part of the restructuring and efficiency-enhancement programme, which has been going on for some time. The newspaper publishers are working towards turning around the performance of the company, which is the reason for this organisation-wide exercise.

All employees above 40 years of age and with over 10 years of service, will be eligible for the scheme. KSL has a long tradition of employee-centricity and the scheme has been designed accordingly.

Employees opting to apply for VRS will receive a generous compensation package — possibly the most generous of recently announced schemes in the industry — in addition to normal retirement benefits, such as provident fund, gratuity, superannuation, encashment of unavailed leave, unclaimed leave travel allowance and any eligible performance-linked incentives.

“We are committed to ensuring that our transformation is led by our people initiatives. To that end, we are rolling out a voluntary retirement scheme to support those employees desiring to opt for the scheme with a compelling retirement corpus. This initiative is consistent with our commitment to ensuring a performance-oriented culture within KSL,” the statement said.

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