Cummins India Limited, a manufacturer of engines, generators, and related products, on 4th December, announced a voluntary retirement program or VRS for its “professional/ exempt employees who have completed minimum 10 years of service and are above 45 years of age.”
The company said in a statement, “This has been done with the objective of reducing headcount to manage the cost structure based on the business cycles.”
The company did not disclose the financial impact of the VRS scheme. “An update on the financial impact will be communicated upon the conclusion of the program,” the company said.
Cummins India was incorporated on 17th February, at Pune. The Company manufactures internal combustion engines in particular diesel engines of all sizes and capacities, reciprocating piston engines, gas turbine engines, gasoline engines, etc. The promoters of the Company were Kirloskar Oil Engines Ltd., Lakshmanrao Kirloskar Road, Khadki, Pune and Cummins Company Inc., Columbus, U.S.A.
The Company is part of the US $23.8 billion Cummins Inc., Cummins in India serves customers through our network of 3 Generator Original Equipment Manufacturers (GOEMs), 22 dealerships and more than 120 dealership branch offices in India.
