TIL Desk/Business/New Delhi/ State-owned BPCL has brought in a voluntary retirement scheme for its employees ahead of the government privatising the country’s third biggest oil refiner and second-largest fuel retailer.
“The Corporation has decided to offer a voluntary retirement scheme, with a view to enable employees who are not in a position to continue in service of the Corporation due to various personal reasons, to request for grant of voluntary retirement from the services of the Corporation,” Bharat Petroleum Corp Ltd (BPCL) said in an internal notice to its employees.
The ‘Bharat Petroleum Voluntary Retirement Scheme – 2020 (BPVRS-2020)’ opened on July 23 and will close on August 13. A senior company official said the VRS has been brought to offer an exit option for any employee or officer who does not want to work under a private management.
“Some employees feel their role, position or place of posting may change once BPCL is privatised. So this scheme offers them an exit option,” he said. BPCL, where the government is selling its entire 52.98 per cent stake, has about 20,000 employees.
