Jamshedpur: The management of Tata Steel Downstream Products Limited (TSDPL) is preparing to introduce an Early Separation Scheme (ESS) for its employees in the near future, as part of efforts to rationalise manpower and reduce operational costs, sources said.
According to union sources, the proposed ESS is likely to be offered to employees aged 45 years and above. The voluntary separation scheme is aimed at streamlining the workforce and easing the company’s cost burden. TSDPL had earlier implemented a similar scheme, under which around 30 employees opted for early separation.
Sources indicated that the upcoming ESS may be structured largely on the lines of the previous scheme, with similar terms and benefits. Management believes that the voluntary retirement initiative will help optimise resources and improve overall operational efficiency.
Meanwhile, even as preparations for the ESS gather pace, the issue of grade revision (wage settlement) for employees remains a key concern. The grade revision of nearly 643 employees of TSDPL has been pending since October 2023.
Union sources said discussions on the wage settlement have reached the final stage, and there is a strong possibility that the agreement will be signed by the end of February. Once finalised, employees are expected to receive the benefits of revised wages along with arrears.
The parallel developments of a potential ESS and the long-awaited grade revision are being closely monitored by the employees, with expectations that clarity on both fronts will emerge soon.
