Tata Tele to shut down, prepares exit plan for 5,000 workers
The Tata Group on Friday informed the government that it plans to shut Tata Teleservices (TTSL), according to reports. TTSL is preparing an exit plan for around 5,000 employees, which includes notice period of three to six months, severance packages, and VRS schemes for elders. Only a small number of employees will get absorbed in other group companies, reports added.