With the effect of Jio, several cellular network providers’ business got impacted. The situation of BSNL is too worse compared to other network providers. Being a part of the government sector, BSNL was not able to provide competitive prices for the services compared to the competitors.
To bring back BSNL onto the profits track, the company announced Voluntary Retirement Service facility for the employees who are 50 years old and above. It seems that around 80000 employees were aiming to utilize this facility and retire in the next few months span.
BSNL will accept the VRS applications till 3rd of next month and this process is expected to save 7000 Crores for the organization. With the decrease in operational cost, BSNL may implement new schemes and methods to raise the organization into the profits. The employees opting for VRS will get 25 days of salary for each year of the remaining service period apart from 35 days of salary for each year of service till retirement, in addition to other benefits.