SIEMENS' VRS FLOPS; MEDICAL CARE DIVISION MAY BE CLOSED
Article Abstract:
Siemens Ltd's (SL) latest voluntary retirement scheme (VRS) has turned out to be a flop, with hardly 190 workers accepting the offer. The reason for failure was that the employees feel that compensation offered by SL was low when compared to other companies. The offer was closed on May 31, 1998. Under the scheme, it had offered a maximum compensation of Rs5.85 lakh to employees. SL has incurred a net loss of Rs157 crore in 1997-98. It is planning to wind up its medical care division at Worli in Mumbai to make up for the losses. (gs)
Comment:
Latest voluntary retirement scheme turns out to be flop as employees feel that compensation offered is low compared to other cos
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BEL RECORDS Rs14.97-CR NET LOSS IN FIRST QUARTER
Article Abstract:
Bharat Electronics Ltd has declared a net loss of Rs14.97 crore in the first quarter of 1998-99. The company has declared a total income of Rs136.28 crore while total expenditure was Rs129.44 crore. The company has decided to shift from military grade to industry and commercial grade components manufacturing to increase its profitability and reduce dependence on the US and Western Europe. (khr)
Comment:
Decides to shift from military grade to industry & commercial grade components manufacturing to increase its profit
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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NEW MD FOR SAMSUNG INDIA
Article Abstract:
Samsung India Electronics Ltd has appointed Mr Kwang Soo Kim as its new managing director. He takes over from Mr BM Park, who was the managing director from August 1995. Mr Park will be returning to the company's headquarters in Korea. Mr Kim, who was formerly the president of Samsung Electronics, Hungary, will take over Indian operations from the end of September, 1998. (khr)
Comment:
Appoints Kwang Soo Kim as its new managing director taking over from BM Park who is the managing director from 8/95
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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