Ashok Leyland announces voluntary retirement scheme to reduce cost amid slowdown

CHENNAI: India's No. 2 commercial vehicles maker Ashok Leyland on Friday announced a voluntary retirement scheme, intended to reduce cost amid a slowdown.

Details about the scheme weren't immediately available.

A press release from the company quoted its MD Vinod K Dasari as saying, "While the company maintained market share in the last quarter, volume pressures continue and we need to take some definite steps to manage the slowdown.

The VRS package will be fair and would provide adequate compensation to any employee who opts for it.”