Covid-19 impact: Honda Cars India Ltd. (HCIL) offers a voluntary retirement scheme to office associates
Honda Cars India Ltd. (HCIL) has offered a voluntary retirement scheme (VRS) for office associates, having age more than 40 years or who have worked with the company for five years, the company spokesperson said.
“The VRS scheme, launched on 24 July has been made so that it provides a win-win situation for associates and the company gets a chance to enhance efficiency in our operations given the current market situation and industry forecast.” the spokesperson said.
“The voluntary retirement scheme announced by Honda Cars is for the office associates and not the employees involved in the production of cars.”
COVID-19 in India has affected all the businesses and the automobile sector is no exception. The pandemic has made things worse for the carmakers in the country which were already battling a heavy sales downturn. As a result, many carmakers are now forced to function with a leaner workforce in order to maintain financial viability.
The scheme will offer industry-leading financial and health-related benefits if they opt to retire from their service. Honda has also partnered with some internationally acclaimed human resource firms to help these employees towards a smooth career transition. The scheme is open from 24 July 2020 and is open to all functions.
Honda Cars India Ltd., (HCIL) is a leading manufacturer of premium cars in India. The company was established in 1995 with a commitment to provide Honda’s latest passenger car models and technologies, to the Indian customers. The company is a subsidiary of Honda Motor Co. Ltd., Japan.
