Tata Motors asks more than 500 employees to leave (Recession)

What everyone is saying about Tata Motors Early Retirement Offer (Recession)

A leading newspaper publicized on Tuesday that TATA MOTORS has asked more than 500 employees to agree for early retirement offer (ERO). This decision was taken for cost cutting, Tata Motors has asked those with lowest appraisal rating and over 20 years of service in the company to leave.

Employees being asked to leave with compensation package of less rupees across six plants and region offices. The former Managing Director of Tata Motors, Mr. Karl Slym who died in January 2014, started this as a measure to reduce costs.

One of the employees of Tata Motors said to the publication that he accepted the offer involuntarily since it was forced.

To the slowdown market strategy in the Indian automotive industry, 2013 was not favor for the company with a net loss of Rs 458.49 crores.