Kolkata, Jan 8 (PTI) Bata India Ltd on Thursday said its board has approved the introduction of a Voluntary Retirement Scheme (VRS) for all eligible workers at the Bata Shatak manufacturing unit in Hosur in Tamil Nadu, as part of its ongoing operational restructuring.
In a regulatory filing, the footwear major said the VRS is expected to be “mutually beneficial” for both employees and the company. The status of implementation and the financial impact of the scheme will be assessed and disclosed later in line with its materiality policy.
Bata India has been consolidating its manufacturing footprint over the years amid cost pressures and changing market dynamics. The company had earlier implemented VRS at multiple units, leading to closures.
Its Faridabad unit in Haryana was shut in 2016 after all workmen opted for VRS, while a unit in Karnataka was closed following a VRS implemented in the past.
With the proposed VRS at Hosur, Bata India continues to rationalise its factory operations, even as it retains manufacturing facilities at select locations including Batanagar in West Bengal, Bataganj in Bihar and Peenya near Bengaluru. PTI BSM NN
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