Visakhapatnam Steel Plant Sees 1,200 VRS Applications

The Visakhapatnam Steel Plant (VSP) is offering a way for some of its employees to retire early, called a Voluntary Retirement Scheme (VRS).

In the second phase, about 1,200 employees applied.

The management is reviewing the applications and has already rejected some.

The government has provided a large financial package to help with these retirements.

In a previous phase, about 1,600 employees opted for VRS.

Some employees who were doing a good job may have had their requests rejected.

The plant previously had a higher turnover, which has been decreasing since the announcement of the government's decision to sell the steel plant.