RICBL brings retirement schemes to lay off staffs

Published on Jan 26 2009 // Main News
Thimphu, January 24: In midst of the increasing unemployment in the country, the government-owned Royal Insurance Corporation Ltd. (RICBL) has begun cutting down the staffs in its strategy to provide efficient service and decrease recurrent expenditure of the government. 
Under the “Voluntary Retirement Scheme”, which comes into effect immediately, the corporation will pay 12 or 24 months salary at a time. 
Accordingly, the company has divided employees into two groups – productive and unproductive. The productive employees willing to retire will get 24 months salary while others will get only that of 12 months. 
Additional strategy of the company is to put pressure on employees to retire failing which will invite implementation of Compulsory Retirement Scheme where an employee will be paid with one-month salary only.
The scheme aims at laying off those employees who had announced to form trade union and appealed court regarding the discrimination in promotion mechanism. 
Six employees, those who had submitted faked documents of expenditure, have already resigned. Bhutan News Service