Table of Contents
What happens to employees when a PSU is closed?
Are PSU employees fired after privatisation? According to these provisions, the new owner of the privatised PSU cannot retrench or fire employees within a year of the closing date of the transaction.
Are PSU employees govt employees?
The employees subordinate to the officers working for these respective entities and their subsidiaries are full-fledged government employees. The stock of these establishments are majority-owned by the government in a public sector undertaking.
Can you get fired from a private PSU?
Yes you heard it anyone who is in either of the two lists would be fired. This would seem simple but it’s not. Once privatised most of the employee’s of a psu end up getting fired! The sad truth is the government is blind to the sufferings of the employee’s.
What happens to PSUs employees when the company changes its strategy?
Nothing happens. It is a corporate entity governed by its board of governors. The Board of Governors change but the employees remain. The Board of Governors may change the strategy of the company but it will not impact the service rules of the employees. Hitherto PSUS are respectable source of Employment to Weaker sections with 50\% Reservations.
What will happen if PSU banks are privatised?
Till now none of the psu banks have been privatised however poor performers they may be.If privatization happens then the psu banks will become target based…they would not hesitate to fire the inefficient employees….they will become More result oriented and customer friendly….but also service charges will increase….
What happens to your pension if you leave the company?
Those who continue will get pension and retirement benefit as usual. Employees will be offered VRS and those who want to continue will be assessed year after year and only the performing employees will be retained and rest will be shown the exit door.