{"id":1289017,"date":"2024-12-29T12:23:45","date_gmt":"2024-12-29T06:53:45","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1289017"},"modified":"2024-12-29T12:24:20","modified_gmt":"2024-12-29T06:54:20","slug":"bsnl-firing-19000-employees-via-vrs-at-rs-15000-crore-expense","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/bsnl-firing-19000-employees-via-vrs-at-rs-15000-crore-expense\/","title":{"rendered":"BSNL Firing 19,000 Employees Via VRS At Rs 15,000 Crore Expense"},"content":{"rendered":"\n

The Department of Telecommunications (DoT) has unveiled plans for a second voluntary retirement scheme (VRS) for Bharat Sanchar Nigam Limited (BSNL). This move aims to reduce the workforce by approximately 35%, targeting 18,000-19,000 employees, as part of the ongoing efforts to improve the financial health of the state-run telecom giant.<\/p>\n\n\n\n

\"BSNL<\/figure>\n\n\n\n

Approval Process and Current Status<\/h4>\n\n\n\n

The VRS proposal has been greenlit by BSNL\u2019s board and submitted to the Ministry of Communications. It now awaits approval from the Ministry of Finance, led by Nirmala Sitharaman, before heading to the Cabinet for final consideration.<\/p>\n\n\n\n

With this proposal, BSNL aims to slash its annual employee wage expenses, which currently stand at \u20b97,500 crore, constituting 38% of the company\u2019s revenue. The proposed scheme is projected to bring this down to about \u20b95,000 crore annually.<\/a><\/p>\n\n\n\n

Financial Implications<\/h4>\n\n\n\n

To fund the VRS, BSNL has sought \u20b915,000 crore. According to senior officials, discussions are ongoing, though no definitive decision has been reached. This significant funding request highlights the urgency of alleviating BSNL\u2019s financial burden, especially with the absence of commercial 4G data services impacting its market competitiveness.<\/p>\n\n\n\n

BSNL\u2019s Financial and Workforce Landscape<\/h4>\n\n\n\n

BSNL recorded a revenue of \u20b921,302 crore in FY 2023-24, showing a marginal improvement over the previous year. The organization\u2019s workforce comprises over 30,000 non-executives and 25,000 executives. The proposed VRS is seen as a crucial step towards achieving greater efficiency and fiscal stability for the telecom giant.<\/p>\n\n\n\n

A Look Back at BSNL\u2019s Revival Efforts<\/h4>\n\n\n\n

This isn\u2019t BSNL\u2019s first attempt at restructuring. In 2019, the government approved a \u20b969,000 crore revival package for BSNL and MTNL, including an earlier VRS. At that time, nearly 93,000 employees opted for retirement under the scheme, which cost around \u20b917,500 crore, factoring in pensions and gratuities. However, challenges such as salary delays arose due to the reduced workforce.<\/p>\n\n\n\n

As BSNL braces for another major workforce adjustment, stakeholders hope this strategic move will pave the way for a stronger and more competitive future.<\/p>\n\n\n\n

\n","protected":false},"excerpt":{"rendered":"

The Department of Telecommunications (DoT) has unveiled plans for a second voluntary retirement scheme (VRS) for Bharat Sanchar Nigam Limited (BSNL). This move aims to reduce the workforce by approximately 35%, targeting 18,000-19,000 employees, as part of the ongoing efforts to improve the financial health of the state-run telecom giant. Approval Process and Current Status […]<\/p>\n","protected":false},"author":30,"featured_media":1289018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[473,4857],"class_list":["post-1289017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bsnl","tag-layoff"],"acf":[],"yoast_head":"\nBSNL Firing 19,000 Employees Via VRS At Rs 15,000 Crore Expense - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/bsnl-firing-19000-employees-via-vrs-at-rs-15000-crore-expense\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BSNL Firing 19,000 Employees Via VRS At Rs 15,000 Crore Expense - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"The Department of Telecommunications (DoT) has unveiled plans for a second voluntary retirement scheme (VRS) for Bharat Sanchar Nigam Limited (BSNL). 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