VRS Meaning In English
VRS translation, meaning, definition, explanation and examples of relevant words and pictures - you can read here.
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Meaning
A voluntary retirement plan is a method used by companies to reduce the number of employees. It is also referred to as the Golden Handshake and is used by companies as a good way to let go of some of their employees. Many companies, mostly belonging to the private and public sector are applying for this scheme.
Example
VRS is a mechanism used by companies to reduce employees. Companies in this system include Public Sector Banks, SAIL, TISCO, Bajaj Auto, Philips India, Castrol, Hindustan Unilever Ltd etc.
Sentence
VRS allows employees to voluntarily retire before the retirement age.
