Hindustan Petroleum Corporation has proposed to shed about 11 per cent of its workforce by offering the surplus staff a VRS, the Rajya Sabha was informed on Tuesday.
"A proposal to introduce voluntary retirement scheme in HPCL has been submitted to the government by HPCL," Minister of State for Petroleum and Natural Gas, Santosh Kumar Gangwar said in a written reply to the Upper House of Parliament.
Under the scheme, the surplus employees identified by HPCL are about 1,000 in non-management category and 250 in management category (about 11 per cent of workforce).
The estimated expenditure to be incurred on the VRS has been indicated at about Rs 260 crore (Rs 2.60 billion), he added.