Endurance offers VSS to 177 workers
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.
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.
RELATED ARTICLES
JSW MG Motor India confident of selling 1,000 M9 electric MPVs in first year
The 5.2-metre-long, seven-seater luxury electric MPV, which will be locally assembled at the Halol plant in Gujarat, wil...
Modern Automotives targets 25% CAGR in forged components by FY2031, diversifies into e-3Ws
The Tier-1 component supplier of forged components such as connecting rods, crankshafts, tie-rods, and fork bridges to l...
VinFast’s second plant in Vietnam goes on stream ahead of India factory
Vietnamese EV maker’s second plant in its home market, which has a 200,000 EVs-per-annum capacity, will focus on produci...