Ford India offers final severance package for Chennai unit employees

It is on average equivalent to 130 days of gross wages per completed year of service, firm says

Ford India has offered a “final revised severance package” for its employees at the Chennai unit, which is on average equivalent to 130 days of gross wages per completed year of service. The company said this was rolled out in the absence of any suitable alternative buyer.

As part of the earlier package, employees were offered 115 days of gross wages for each completed year of service, which was later revised to 124 days. Based on the current package, the cumulative average severance package was kept at Rs 41 lakh per employee. At the same time, a minimum amount of