Pune-based Thermax Ltd offers VRS

Pune: Pune-based energy and environment company Thermax Limited said in an exchange filing that it has unveiled a voluntary retirement scheme (VRS) for eligible employees.
“In view of Thermax reorganising its manufacturing operations and considering the current economic scenario, the company has announced VRS for the benefit of our workmen at our Chinchwad plant,” the company said in a statement.
The company said in its filing that its board of directors have approved VRS for all eligible employees who have completed 10 years of service with the company or age more than 40 years. “An update on the financial impact will be communicated to the Exchange,” the filing read.