More than 1,600 employees of Air India, the former state-run carrier now owned by the Tata group, have opted for voluntary retirement under a scheme announced on June 1.
These employees comprise 22 per cent of permanent staff (around 7,000). The airline has a total employee strength of around 10,800, including those on contract.
At first, employees older than 55 and with 20 years of continuous employment could opt for a voluntary retirement scheme (VRS). The rules was relaxed in June and VRS opened for those older than 40 among cabin crew, clerical and unskilled categories. Those who have opted for VRS until June end will get an additional incentive of Rs 1 lakh and the scheme will continue till