State-run telecom firm BSNL has cleared staff salaries amounting to ₹800 crores for November on Monday, BSNL's Chairman PK Purwar announced.
"Stability in the salary payment schedule had expected to take two to three months more," Purwar said. BSNL has also cleared vendor dues worth ₹1,700 crores that were pending for over six months.
The company expects savings of ₹1300 crore in wage bills for the financial year ending 31 March 2020.
As of mid-December, as many as 78,569 employees of Bharat Sanchar Nigam Ltd have availed the voluntary retirement scheme (VRS) option offered by the government and applications of most of these will get approved, Purwar had told Mint on 17 December.
The company also expects savings of ₹1300 crore in wage bills for the financial year ending 31 March 2020 once the VRS scheme takes effect on 31 January 2020. As far as MTNL concerned, 14,300 employees have applied for VRS.