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Tata Teleservices prepares exit plan for staff

Company executives and industry insiders said the  debt-laden  telecom company, which will shut its operations soon, had last month asked circle heads to leave by March 31, 2018. MUMBAI:  Tata Teleservices  (TTSL), the telecom unit of  Tata Sons , is preparing an exit plan for most of its 5,000-odd employees, which includes a notice of three to six months, severance packages for those willing to leave earlier, a  voluntary retirement scheme (VRS) for elders, while transferring only a small part of its employees to other group companies. Company executives and  industry insiders said the debt-laden telecom company, which will shut its operations soon, had last month asked circle heads to leave by March 31, 2018. "The Tata Group has always taken care of its people, but very few will get absorbed in other group companies. It is unfair to saddle other Tata companies with employees of TTSL," said a senior official, who did not wish to be identified. The...