As part of its workforce restructuring at the Kurla manufacturing unit, Fiat India Ltd on Monday said it has accepted the voluntary retirement of more than 50 per cent of its employees at the plant.
"We have accepted VRS scheme of 711 employees out of a total of 1,270 employees," a Fiat spokesperson said.
The company, however, has no plans to shutdown the Kurla unit and this is just a move to resize the unit and increase efficiencies, he added.
Earlier last month, Fiat and Tata Motors had commenced their shared dealer network in 11 cities representing 70 per cent of Fiat's Indian market. The Tata-Fiat network comprises 25 existing Tata dealers and three from Fiat.
As per the deal, 28 dealers would sell through their 44 outlets, models including Fiat Palio and the Fiat Adventure and all Tata Motors passenger vehicles such as Indica, Indigo, Indigo Marina, Sumo and Safari.Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
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