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Rs 30,142 crore loss to debt-ridden Reliance Communications

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The private sector is facing tremendous recession these days. The impact of the economic slowdown on many multinational companies is clearly visible. Reliance Communications (RCom), one of the country's leading companies, is also not untouched by this. Debt-ridden Reliance Communications (RCom) has a consolidated loss of around Rs 30,142 crore in the July-September quarter. In view of the decision on the statutory arrears by the Supreme Court, the company's losses have reached such a high level due to the provision for liabilities.

BSNL Employees eagerly applying in the Voluntary Retirement Scheme (VRS)

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The State-owned telecom company released a voluntary retirement scheme (VRS) for its employees with an aim that this will help the company to save around Rs 7,000 crores in the wage bill. From the Scheme, they are expecting that round about 70,000 to 80,000 employees will opt for it, which will be helping them in finance. Out of the total staff of 1.5 lakh, around 1 lakh employee are eligible to avail the Scheme.  As per the Chairman and Managing Director of BSNL P K Purwar, the Scheme will be open from November 4 and will be available till December 3. He added that the instructions are given to the people in Field units to inform the employees about the VRS scheme.
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