Bharat Forge announces VRS for employees with 40 years of age, ten years of service

India’s leading forging company, Bharat Forge, on Saturday, announced a voluntary retirement scheme (VRS) for “its eligible employees who have completed ten years of service with the company.

“We wish to inform you that the company has on Saturday, October 23, 2021, after closure of working hours announced a VRS for its permanent eligible employees who have attained 40 years of age and have completed 10 years of service with the company at its plant located at Mundhwa, Pune,” the company said in a regulatory filing on Monday.

The company did not disclose the financial impact of the VRS scheme. “An update on the financial impact will be communicated upon conclusion of the Scheme,” it added.