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182 employees opt for VRS in Federal Bank
Staff Reporter
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Union urges the management to fill vacancies
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KOCHI:
A total of 182 employees have opted for the `voluntary separation scheme' floated by Federal Bank.
The applications were being scrutinised by the management and the processing of the applications of the first batch of beneficiaries would be completed by October 30, sources said. The scheme was open to those who completed 50 years of age as on September 30. A maximum amount of Rs.10 lakh was offered as additional ex-gratia.
When contacted, the Federal Bank Officers Union maintained that the union members were opposed to the scheme in principle but supported the staff who wished to avail themselves of the scheme. The Union has urged the management to fill the vacancies arising out of the retirement of staff members under the new scheme.
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