Bata India board okays VRS scheme for its employees

Footwear firm Bata India on Wednesday said its board has approved a Voluntary Retirement Scheme (VRS) for all eligible employees/workers at its Faridabad unit.

At the board meeting of the company held on Wednesday, "the board considered and approved introduction of a Voluntary Retirement Scheme (VRS) for all eligible employees/workers at the Faridabad unit of the company," Bata India said in a BSE filing.

It BSE filing also said, "The company believes that implementation of the VRS will be beneficial to the company in the long-term." 
The status of implementation of the aforesaid VRS and financial impact thereof will be ascertained and communicated in due course, it added.