BSNL VRS employees salary November 2019: Big development! Check latest news from CMD PK Purwar
BSNL VRS employees salary November 2019: It's a big and important development for BSNL employees waiting to get their November 2019 salary.
BSNL VRS employees salary November 2019: It's a big and important development for BSNL employees waiting to get their November 2019 salary. According to CMD PK Purwar, "With the October salaries credited on December 5, BSNL employees will get their November salary soon, as per a report in IANS.
"The salaries for November are expected this month...very soon."
Purwar added, "Once their (employees who availed VRS) applications are approved and get effective on January 31, things will get streamlined, and we will have savings of around Rs 600 crore per month for February and March this fiscal, which means around Rs 1,300 crore savings for this fiscal from salaries only."
In total 78,569 employees have opted for voluntary retirement scheme (VRS), BSNL CMD PK Purwar has confirmed.
Moreover, state-owned Bharat Sanchar Nigam Ltd (BSNL) has said that post VRS, the telecom major expects to save Rs 1,300 crore in wage bills this fiscal after the scheme becomes effective in January.
"On January 31, 2020, it (the VRS scheme) will be effective. Our goal is that people who have applied for VRS, their application should be considered and approved...," PK Purwar said.
On the matter of merger with MTNL, the BSNL CMD said discussions have started and boards of both the companies have met on a common platform.
Earlier, it was reported by IANS that BSNL has a salary bill of Rs 850 crore a month and MTNL of Rs 2,270 crore. They will now see a substantial reduction in the HR expenses which will help them return to operating profit after cutting down their losses in two years.
BSNL has a loss of Rs 14,500 crore in 2018-19 and MTNL posted a Q2 loss of Rs 949 crore in the current fiscal and a loss of Rs 3,388.07 crore and revenue of Rs 2,085.41 crore in 2018-19.
The total debt on the company is around Rs 20,000 crore. The finance cost on MTNL was around 50 per cent of the revenue.
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