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Titan which is a Tata group firm has announced a voluntary retirement scheme (VRS) for employees for reducing headcount in order to improve productivity.
Titan Company has said in a BSE filing that “The company, on April 28, 2016, announced a voluntary retirement scheme for employees who have either completed 10 years of service or are above 40 years of age. This has been done with the objective of reducing headcount in order to improve productivity in the company.”
The company has said that on conclusion of the scheme, the impact of this on the financial will be updated by it.
