Tier-1 supplier Endurance Technologies has gone in for a voluntary separation scheme (VSS) to 177 workers at its Chakan plant near Pune. This will involve a payout of Rs 31.45 crore.
"Through this VSS, the company has achieved workforce rationalisation for the plant which will lead to overheads reduction and greater efficiency in operations,” the company said in a regulatory filing on Monday.
This is the second such move since October last year when Endurance had implemented a VSS for 86 workers at its Aurangabad facility involving an outgo of Rs 11.2 crore.
In India, the company makes aluminium castings, suspensions, transmission and braking systems largely for Indian 2/3-wheeler makers while catering to four-wheeler OEMs in Europe. Of its 27 plants, 18 are in India with the balance in Germany and Italy.