One of the well-known PSUs, BSNL is fairly making losses in recent years and in 2017-18, it made some great losses that accumulated its debt to Rs.31,287cr.
(Tidbit: If a Government is owning 51% or more share in the company, then it’s called a PSU or Public Sector Undertaking.)
BSNL May Stop Serving You Soon! Government Asks Company To Look For Options
Upon watching it’s ruining condition, the government has asked BSNL to look for options to revive. Which could be planning for comeback, disinvestment or even closure.
These discussions were raised in the company’s latest meeting with telecom secretary Aruna Sundararajan.
In the meeting, BSNL chairman, Anupam Srivastava had explained the Company’s situation and turmoil it’s facing in the industry after Jio‘s inception.
There are more details regarding the Company’s Manpower and their VRS talkings happened.
(VRS: Voluntary Retirement Scheme is about letting the aged employees leave the company after attaining a certain age, mostly 60, with their retirement benefits along.)
BSNL further said, apart from industry competition, the company struggles with its aging manpower. Remedies of this could be VRS planning or decreasing the retirement age from 60 to 58, which can save about 3,000cr if done. And from VRS, company plans to target employees aged between 56-60, who contributes about 67000 employees and assuming even if there’s 50% laid off with VRS, that could benefit a sum of another 3,000cr.
Besides, the company can also grab up from its assets in large bank-lands and buildings, which could shower another 15,000cr.
What sense this makes to you?
See the company’s downfall and make plans to switch. Choose the best one suiting you.