Tata Teleservices to shut soon, prepares exit plan for staff

Tata Teleservices that will shut its operations soon is preparing an exit plan for most of its 5,000-odd employees, which includes a notice of three to six months, severance packages for those willing to leave earlier, a voluntary retirement scheme (VRS) for elders, while transferring only a small part of its employees to other group companies. Company executives and industry insiders said the debt-laden telecom company had last month asked circle heads to leave by March 31, 2018. 

"The Tata Group has always taken care of its people, but very few will get absorbed in other group companies. It is unfair to saddle other Tata companies with employees of TTSL," said a senior official. The transfer may only happen if there’s a niche set of skills needed in other firms that may match with those of employees in the telecom unit. There may be voluntary retirement schemes for the senior employees - above a particular age - that will be rolled out in the next few months. For majority of the employees, the telecom unit of the Tata Sons will offer a notice of at least three-six months and those who want to leave can take the severance packages....Read More